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The Bank of England cut its policy rate by 25 basis points to 4.5% and halved its 2025 UK growth forecast to 0.75%. It also raised its inflation peak forecast to 3.7%, well above earlier estimates.
Sterling fell about 0.8% to around $1.241.
Weaker UK growth alongside higher inflation raises stagflation concerns and keeps further rate cuts priced in, which weighs on sterling against the dollar. For feed buyers the effect on grain and feed prices is indirect.
reuters.comHarry RobertsonFeb 6, 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.
