Functional Weave
Code in Python

finance.uk-bank-rate

Bank of England Bank Rate (base rate) in force on a date, from the Bank's official history since 2001.

1.0.0 (not the latest) · published 2026-10-03 by charlie · Anterra

Pinned by 14 tests, run in TypeScript, Python and Rust.

What it does

The Bank of England's Bank Rate (the "base rate", and the "official dealing rate" in older legislation) in force on a date. Statutory interest, tracker mortgages and loan agreements are all written as a margin over it, and all of them need the rate on a particular past date, not today's.

The rates are dated rows in `data/bank-rate.json`, one per change, each in force from the day of the change to the day before the next. They run from the cut to 4% on 8 November 2001 (so the rate on any date from then on is known) to the cut to 3.75% on 18 December 2025, which was still in force when this version was published. A date before 8 November 2001 is refused rather than guessed.

For example

  • uk_bank_rate(2026-09-23) → rate 3.75%, valid from 2025-12-18, valid to — in force today
  • uk_bank_rate(2025-12-18) → rate 3.75%, valid from 2025-12-18, valid to — the day a cut takes effect
  • uk_bank_rate(2025-12-17) → rate 4%, valid from 2025-08-07, valid to 2025-12-17 the day before it

The function

The same function in TypeScript, Python and Rust, pinned by the same tests. Pick your language; the choice follows you around the registry.

def uk_bank_rate(on_date: str) -> BankRate
on_datedatethe date to look up; a change takes effect on the day it is announced as effective
returnsBankRate

The type it declares, generated into your project

@dataclass(frozen=True)
class BankRate:
    """The rate in force, and the dates it was in force."""

    #: 375 = 3.75%
    basis_points: int
    #: the day it took effect
    valid_from: str
    #: the day before the next change; null while still in force
    valid_to: Optional[str]

Your code names it in one line, in the file that uses it

from fune.finance.uk_bank_rate import uk_bank_rate  # finance.uk-bank-rate@^1
impl/python.py · 21 lines · open · raw

Imports name this capability’s declared dependencies, which fune builds next to it in your project; each one links to its page.

from .dates_add_days import add_days  ← from dates.add-days ^1.0.0 · built alongside by fune
from .finance_uk_bank_rate_data import BANK_RATE, BANK_RATE_HISTORY  ← this capability’s own data, compiled from data/bank-rate.json into the same file by fune build
from .finance_uk_bank_rate_types import BankRate


def uk_bank_rate(on_date: str) -> BankRate:
    """Bank Rate in force on a date: the latest change on or before it."""
    add_days(on_date, 0)  # validates the date; ISO dates then compare as strings
    for row in BANK_RATE:
        if on_date >= row.valid_from and (row.valid_to is None or on_date <= row.valid_to):
            return BankRate(basis_points=row.basis_points, valid_from=row.valid_from, valid_to=row.valid_to)
    # A history=current build keeps only the rate in force; answering an older
    # date with it would be exactly the wrong answer this data exists to prevent.
    if BANK_RATE_HISTORY != "full" and len(BANK_RATE) > 0:
        earliest = min(r.valid_from for r in BANK_RATE)
        if on_date < earliest:
            raise ValueError(
                "no Bank Rate on %s: this build was installed with history=%s, so it only carries rates from %s. "
                "Reinstall with history=full for older dates." % (on_date, BANK_RATE_HISTORY, earliest)
            )
    raise ValueError("no Bank Rate on %s" % (on_date,))

Install

fune build

With that line in your source, in a Python project (language python in fune.project), fune build resolves it and its 1 dependency, pins them in fune.lock, downloads only the Python package of each, and builds the code above into your project’s .fune/build, one readable file per capability with a header linking back here. Or pin a range in fune.project and build in one step:

fune add finance.uk-bank-rate
Download for Python finance.uk-bank-rate-1.0.0-python.fune · 15,142 bytes sha256 a2f5f0eecbf5adfeee3e8f91a39e84065aa8fdd99b962d18fc13f3975654b006

The manifest, vectors and README with only the Python implementation. Install it without the registry with fune add ./finance.uk-bank-rate-1.0.0-python.fune, or fetch it from a terminal with fune pull finance.uk-bank-rate@1.0.0:python.

The whole function, every language, is one file too: finance.uk-bank-rate-1.0.0.fune, 18,299 bytes, sha256 ba6aaaa0cef20deda10b06d09133b399d8f136790bb604eb180109f96f4363be. It installs into a project of any language.

Customise it in your app

The seams this capability offers. Put a marker directly above a function of your own and fune build wires it into the built code; the package on the registry is not changed, the built file’s header lists it under CUSTOMISED, and fune hooks lists every hook in the project. How hooks work.

before — your function gets the arguments and returns them, changed or not, or throws to refuse the call.

# fune: before finance.uk-bank-rate

after — your function gets the result and the arguments, and returns the final result.

# fune: after finance.uk-bank-rate

replace — inside this capability’s code only, calls to a dependency go to your function, with the same signature. Other capabilities that use it are unaffected; write in * to replace it everywhere.

# fune: replace dates.add-days in finance.uk-bank-rate

step — your function runs at a numbered point inside the function’s body, receives the in-scope values it names as parameters, and may return replacements. List the points with fune show finance.uk-bank-rate --steps.

# fune: step finance.uk-bank-rate after <n|label>

Tests

A version published now needs at least 8 tests for every function, and one that expects the error for each function that throws; the registry refuses it otherwise. fune verify --all runs each case in TypeScript, Python and Rust, and a project runs them again with fune verify. This page lists the cases; it does not run them. The exact JSON is vectors.json.

CaseArgumentsExpected
in force today 2026-09-23 → rate 3.75%, valid from 2025-12-18, valid to —
the day a cut takes effect 2025-12-18 → rate 3.75%, valid from 2025-12-18, valid to —
the day before it 2025-12-17 → rate 4%, valid from 2025-08-07, valid to 2025-12-17
the 0.1% emergency low of March 2020 2021-06-30 → rate 0.1%, valid from 2020-03-19, valid to 2021-12-15
the short-lived 0.25% between the two March 2020 cuts 2020-03-15 → rate 0.25%, valid from 2020-03-11, valid to 2020-03-18
the 5.25% peak 2024-06-30 → rate 5.25%, valid from 2023-08-03, valid to 2024-07-31
seven years at 0.5% after March 2009 2012-12-31 → rate 0.5%, valid from 2009-03-05, valid to 2016-08-03
a leap day 2024-02-29 → rate 5.25%, valid from 2023-08-03, valid to 2024-07-31
the first date the data covers 2001-11-08 → rate 4%, valid from 2001-11-08, valid to 2003-02-05
30 June 2002, the first reference date of the Late Payment rate order 2002-06-30 → rate 4%, valid from 2001-11-08, valid to 2003-02-05
Show the other 4 tests
CaseArgumentsExpected
before the credit crunch cuts 2007-12-31 → rate 5.5%, valid from 2007-12-06, valid to 2008-02-06
a date before the data begins is refused 2001-11-07 → error: no Bank Rate on 2001-11-07
an impossible date is refused 2025-02-29 → error: not a real calendar date
a malformed date is refused 31/12/2025 → error: not an ISO date

More from the author

Source: Bank of England, "Official Bank Rate history", https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp, checked on 23 September 2026 (no change in 2026 up to that date). Rates are held in basis points, which every published rate fits exactly (0.1% is 10).

When the rate changes, publish a new version with the new row and the previous row's `validTo` filled in. The data declares its effective dates, so a `history=current` build ships only the rate still in force and refuses an earlier date, explaining why, rather than answering it with today's rate.

Files

PathBytes
README.md1,277
data/bank-rate.json7,023
impl/python.py1,210
impl/rust.rs1,788
impl/typescript.ts1,250
vectors.json2,020