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The Bank of England raised its policy rate by 50 basis points, its ninth consecutive increase, with the vote split across the nine-member committee. Sterling fell to a session low of about 1.2% down against the dollar, and the bank said inflation had now peaked.
A dovish tilt from the BoE with a divided committee weakens sterling and feeds into a firmer dollar, which can pressure dollar-denominated grain and meal prices for UK-linked buyers. The effect on feed markets is indirect.
rte.ieRTÉ NewsDec 15, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
