Interest Rate Forecasts 2020 – 2024                                                                             Annex  A

The PWLB rates below are based on the new margins over gilts announced on 26^th November 2020.  PWLB forecasts shown below have taken into account the 20 basis point certainty rate reduction effective as of the 1st November 2012. There are no changes to these forecasts as at 5.1.21.