# UK inflation sucker-punches the BoE, while sterling bulls cheer | Reuters

> UK CPI rose to 10.4% in February from 10.1% in January, above Reuters poll forecasts. Markets priced a near-certain Bank of England rate rise to 4.25%, and sterling traded near $1.227 with two-year gilt yields up 25 basis points.

- Date: 2023-03-22 · published 2023-03-22T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/37120-uk-inflation-sucker-punches-the-boe-while-sterling-bulls-cheer-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Higher UK rates support the pound and can weigh on UK import costs and food-price pressure. For feed buyers the link to grain and feed prices is indirect.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/uk/uk-inflation-sucker-punches-boe-while-sterling-bulls-cheer-2023-03-22/

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