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The Bank of England raised its rate by 50 basis points to 3.50%, its ninth straight increase and eighth of 2022. Governor Bailey said the bank's forecasts showed UK inflation, at 10.7% in November, had peaked, and the decision split the committee between a 75bp hike and a pause.
Higher UK rates and a peaking inflation outlook support sterling and cool expectations of further tightening, which affects borrowing costs for UK livestock and feed businesses. Direct grain price impact is limited.
finance.yahoo.comReutersDec 15, 2022
euronews.comDec 15, 2022Not 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.
