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The Bank of England surprised markets on June 22 by raising its rate 0.5 percentage points to 5%, the highest since 2008. The move was larger than the 0.25 point hike that had been expected.
The article notes the decision as a surprise to market expectations.
A larger-than-expected hike tightens UK financial conditions and tends to firm sterling in the short run, which can affect the cost of dollar-priced imports. The direct effect on feed commodities is limited.
economies.comRami HaddadJun 22, 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.
