# Instant view: Bank of England keeps rates at 15-year high, gilts rally

> 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.

- Date: 2023-11-02 · published 2023-11-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/33425-instant-view-bank-of-england-keeps-rates-at-15-year-high-gilts-rally
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

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.

## Sources

- reuters.com: https://www.reuters.com/world/uk/view-bank-england-keeps-rates-15-year-high-2023-11-02/

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