◂ Event Timeline

Dec 19, 2024MACROUK

Bank of England holds rates but vote split surprises markets

The Bank of England held its key rate at 4.75% at its final meeting of 2024, with a 6-3 vote in which three members wanted a cut. Staff downgraded fourth-quarter growth forecasts to zero from 0.3% after UK inflation rose to an eight-month high.

WHY IT MATTERS

A split vote and weaker growth raise the odds of BoE rate cuts in 2025, which tends to weaken sterling against the dollar and shifts currency flows that matter to import costs for feed buyers.

AFFECTSBrazilian Real (BRL per USD)◆

SOURCE
cnbc.comJenni ReidDec 19, 2024

Price reaction & history

Brazilian Real (BRL per USD)◆neutralSO FAR1d -0.8%5d -0.5%20d -2.5%

After 92 past neutral macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +0.4% over 20.

Aug 30, 2023EMERGING MARKETS-Latin American currencies up on weaker dollar; Brazil's real lags on rate-cut speculation+2.3%
Sep 26, 2023EMERGING MARKETS-Brazil's real steady after inflation data, Hungary trims interest rates+2.3%
Oct 1, 2026Election uncertainty drives volatility in Brazil markets-3.5%
Dec 8, 2021Brazil central bank makes 150 bps interest rate hike, signals another+0.7%
Jun 30, 2025Brazilian economists expect central bank to cut rates in early 2026 despite hawkish signals-0.3%

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.

Brazilian Real (BRL per USD) USDBRL · GP ▸

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