# UPDATE 1-Pound holds lower vs dollar after BoE rate rise | Kitco News

> The Bank of England raised its policy rate by 25 basis points to 4.5%, its 12th consecutive increase, and said inflation will fall more slowly than previously hoped. It also dropped its recession forecast. Sterling trimmed losses but stayed lower against the dollar after the decision.

- Date: 2023-05-11 · published 2023-05-11T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/36190-update-1-pound-holds-lower-vs-dollar-after-boe-rate-rise-kitco-news
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Higher UK rates and a firmer pound affect the sterling-dollar rate that shapes UK import costs for feed ingredients priced in dollars; the effect on grain and oilseed prices is minor.

## Read by commodity

- GBPUSD: neutral

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-05-11/update-1-pound-holds-lower-vs-dollar-after-boe-rate-rise

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