Loading…
The Bank of England raised its main rate by 50 basis points to 4%, a 7-2 vote and its tenth straight hike. It dropped the word 'forcefully' from its guidance and projected a much shallower output decline than previously forecast, with inflation expected to fall to around 4% by year-end.
A firmer sterling-supporting rate path and a milder recession outlook reduce UK demand weakness concerns, with little direct effect on feed grain balances. The main feed-price channel is via the dollar and sterling exchange rate affecting UK feed import costs.
cnbc.comElliot SmithFeb 2, 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.
