SONIA Forward Curve: Today’s Market-Implied Path
The 3M compounded SONIA forward curve, bootstrapped from live GBP swap quotes and refreshed through the trading day. Chart it, read the year-by-year forecast, or take the whole grid to Excel.
Last update:
3M SONIA forward curve · year-end forwards
| Date | Forward Rate |
|---|---|
| 31 Dec 2026 | 4.03% |
| 31 Dec 2027 | 4.36% |
| 31 Dec 2028 | 4.42% |
| 31 Dec 2029 | 4.31% |
| 31 Dec 2030 | |
| 31 Dec 2031 | |
Curves bootstrapped from live interdealer swap quotes. Read how we build these curves.
Unlock the full curve
Get the complete SONIA forward curve in Excel
- Every forward, out to the longest quoted tenor
- One-click download to Excel
- Excel Add-in & API access
- Curves for 30+ currencies, refreshed all day
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“We stopped chasing the bank for a mid. BlueGamma is our curve of record now.”
The SONIA forward curve in Excel & API
If you’re copying this curve into a model more than once a month, you don’t need a download, you need a feed. One function per forward period, always current, straight into your model.
// Excel: any SONIA forward period in a cell =BlueGamma.FORWARD_RATE("SONIA", start_date, end_date) # API: the same rate, one GET away GET api.bluegamma.io/v1/forward_rate ?index=SONIA&start_date=2027-06-30&end_date=3M x-api-key: your_api_key
The curve prices your float. The desk quotes a par rate.
When you fix, the bank quotes one number for the whole term. Check it against an independent SONIA mid before you sign: the difference is their margin.
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What is the SONIA Rate?
SONIA stands for Sterling Overnight Index Average. It is a daily interest rate published by the Bank of England, reflecting the average interest rate banks pay to borrow sterling overnight on an unsecured basis.
SONIA is widely used as the benchmark floating rate in GBP interest rate swaps and loan agreements.
The projected path on this page is often called the SONIA yield curve; both names describe the same market-implied rates.
Term SONIA vs Compounded SONIA
Compounded SONIA is calculated by compounding daily SONIA fixings over a set period (e.g., 3 months).
Term SONIA, by contrast, is a forward-looking benchmark published by LSEG, based on swap market data.
FAQs
Quotes stream straight from tier-one inter-dealer brokers and exchanges. We sanity-check every feed before building the curve.
Yes. Pick any valuation date (and even time) and download the historical curve to Excel.
Curves update intraday from live swap quotes; the Excel download is built on the very latest ticks the moment you hit Download.
SOFR, SONIA, EURIBOR, CORRA, BBSY, STIBOR, NIBOR, JIBAR and 30-plus others — all forward curves and discount factors.
Yes. Pull curves via a REST API or use the Excel function =BLUEGAMMA(). Same numbers everywhere, no manual uploads.
Absolutely. Load any swap (fixed-for-floating, amortising or bullet), drop in the notional schedule and get a mark-to-market in minutes — or roll the clock back for historic pricing.
Most free forward curves are published once a month as a static chart. BlueGamma rebuilds the SONIA curve from live swap quotes throughout the trading day, shows the dated values rather than a picture, and lets you download the full grid to Excel during a free trial.
More on SONIA
SONIA Swap Rates
Today's GBP SONIA swap rates from 1 to 50 years, with history.
Compounded SONIA
Daily and period-compounded SONIA rates for floating-leg calculations.
Realised SONIA vs the forward curve
How realised SONIA compared with what the forward curve predicted.
Forward curve basics
How forward curves are built, read and used in models.
Pull a curve into Excel
How to pull a forward curve directly into a spreadsheet, step by step.
Bank of England rate forecast
Where the market sees Bank Rate going next.
More from BlueGamma
Or browse the full forward curve catalogue, covering every curve we publish.