# BoE Expected to Hike Rates Amid Central Bank Meetings

> Sterling edged lower against the dollar ahead of a week of central bank meetings, including the Bank of England, which markets expect to raise rates by 50 basis points to 4%. Sterling was trading near a seven-month high.

- Date: 2023-01-30 · published 2023-01-30T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/38017-boe-expected-to-hike-rates-amid-central-bank-meetings
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Currency moves in major central banks shift the dollar's strength, which affects the relative cost of US commodity exports; for feed buyers, a firmer dollar tends to pressure grain and meal prices.

## Read by commodity

- DXY: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-09-25 | [Dollar slips ahead of widely expected Fed rate hike](https://feedsoft.ai/events/63243-dollar-slips-ahead-of-widely-expected-fed-rate-hike.md) | +0.3% | +1.4% |
| DXY | 2023-01-28 | [KBank expects the "baht" range next week to be at 32.50-33.30 baht, keeping an eye on the Fed-ECB-BOE meeting - Money & Banking Magazine](https://feedsoft.ai/events/38062-kbank-expects-the-baht-range-next-week-to-be-at-32-50-33-30-baht-keeping-an-eye.md) | +0.5% | +2.1% |
| DXY | 2017-11-02 | [Bank Rate increased to 0.50% - November 2017 \| Bank of England – the UK's central bank](https://feedsoft.ai/events/68228-bank-rate-increased-to-0-50-november-2017-bank-of-england-the-uk-s-central-bank.md) | -0.1% | -1.5% |
| DXY | 2022-02-24 | [Sterling falls below $1.36 as BoE tries to cool rate-hike bets \| Euronews](https://feedsoft.ai/events/42939-sterling-falls-below-1-36-as-boe-tries-to-cool-rate-hike-bets-euronews.md) | +1.0% | +1.2% |
| DXY | 2023-12-01 | [Market pushback on central banks' rates view just got louder](https://feedsoft.ai/events/32928-market-pushback-on-central-banks-rates-view-just-got-louder.md) | +0.3% | -1.5% |

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/sterling-steadies-vs-dollar-ahead-of-boe-ecb-meetings/

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