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Bloomberg reports the pound's slump is adding to inflation pressure ahead of the Bank of England's rate decision. A Bloomberg model estimates sterling's drop since the autumn forecast could add up to 0.23 percentage points to inflation in coming quarters.
The pound is the worst-performing major currency this year amid fiscal concerns.
A weaker pound raises UK import costs, which can lift domestic feed and ingredient prices priced in sterling and may keep UK rates higher for longer, affecting UK-linked feed buyers.
financialpost.comBloomberg NewsJan 29, 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.
