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The Bank of England held rates on February 1 but two Monetary Policy Committee members voted for a 25bp hike, and the forecast keeps inflation above target. Sterling and UK market rates edged higher as the expected dovish tone failed to appear.
A hawkish BoE that delays cuts supports sterling and keeps UK borrowing costs high. The effect on feed commodity prices is minor.
think.ing.comChris Turner, Benjamin SchroederFeb 1, 2024Not 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.
