# Bank of England Governor Suggests Market is Mistaken in Outlook for Bank Rate

> Bank of England Governor Andrew Bailey said at the ECB Forum in Sintra on June 28 that the 50 basis point hike was the right response to persistent inflation signals. He also said further increases were far from assured and that policy would be evidence-driven. His remarks suggested markets were mistaken to price in more tightening.

- Date: 2023-06-28 · published 2023-06-28T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/35757-bank-of-england-governor-suggests-market-is-mistaken-in-outlook-for-bank-rate
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

If the BoE signals fewer hikes, sterling and UK bond yields could ease, reducing the pressure that has been pulling the dollar higher. The impact on grain and feed prices is marginal.

## Read by commodity

- GBPUSD: neutral

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/economics/18927-bank-of-england-governor-suggests-market-is-mistaken-in-outlook-for-bank-rate

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