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The Bank of England held its Bank Rate at 5.25% on November 2, a 15-year high, for a second straight meeting. The bank said it did not expect to cut rates soon and published forecasts showing the economy close to recession.
Sterling traded around 0.5% higher at $1.2208 after the decision.
A long hold at high UK rates supports sterling but weighs on UK growth, which has minimal direct effect on feed commodity prices. The impact on feed buyers is indirect, through interest-rate and dollar channels.
reuters.comNov 2, 2023Not 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.
