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The Bank of England cut rates by 25 basis points to 4.5% in line with market expectations. It forecasts inflation peaking at 3.7% in summer and UK growth of 0.75% this year, and it expects one or two further cuts in 2025.
GBPUSD fell about 1% after the decision.
The dovish outlook is expected to keep sterling under pressure against the dollar. The direct effect on feed markets is limited.
xtb.comFeb 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.
