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The Bank of England published analysis on July 25, 2025, showing the SONIA-Bank Rate wedge has narrowed to about 3 basis points, the tightest since early in the Covid pandemic. The post explains the drivers of SONIA movements and why the central bank monitors them.
SONIA changes affect sterling short-term rates and financial conditions in the UK, but the direct impact on feed commodity prices is negligible.
bankofengland.co.ukJul 25, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
