# Sterling falls after BoE's ninth consecutive rate hike

> 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.

- Date: 2022-12-15 · published 2022-12-15T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/38476-sterling-falls-after-boe-s-ninth-consecutive-rate-hike
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-23 | [Bond yields surge after Fed’s third consecutive 0.75% interest rate rise](https://feedsoft.ai/events/39839-bond-yields-surge-after-fed-s-third-consecutive-0-75-interest-rate-rise.md) | +1.1% | +1.2% |
| DXY | 2016-12-14 | [U.S. bond yields, dollar gain, stocks fall after Fed rate hike](https://feedsoft.ai/events/73367-u-s-bond-yields-dollar-gain-stocks-fall-after-fed-rate-hike.md) | +1.6% | +0.9% |
| DXY | 2025-10-01 | [Sterling falls as Powell takes cautious tone on rate cuts](https://feedsoft.ai/events/23143-sterling-falls-as-powell-takes-cautious-tone-on-rate-cuts.md) | +0.3% | +0.3% |
| DXY | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | +0.7% | -2.5% |
| DXY | 2017-01-19 | [Stocks, currencies fall after Fed's Yellen signals rate hikes](https://feedsoft.ai/events/11875-stocks-currencies-fall-after-fed-s-yellen-signals-rate-hikes.md) | -0.4% | -1.5% |

## Sources

- rte.ie: https://www.rte.ie/news/business/2022/1215/1342036-sterling-movements/

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