# Bank of England holds rates steady ahead of UK election

> The Bank of England kept its benchmark rate steady at 5.25%, a 16-year high, at its June 20 meeting ahead of the July 4 UK election. Some policymakers said the decision not to cut was now finely balanced.

- Date: 2024-06-20 · published 2024-06-20T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30039-bank-of-england-holds-rates-steady-ahead-of-uk-election
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A hold keeps sterling supported by higher yields, which can firm GBP against the dollar and affect the cost of UK-bound dollar-priced feed imports. The impact on feed grain prices is limited.

## Read by commodity

- GBPUSD: neutral

## Sources

- reuters.com: https://www.reuters.com/world/uk/view-bank-england-holds-rates-steady-ahead-uk-election-2024-06-20/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.