# Bank of England raises rates to 3.5%, says inflation has peaked

> 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.

- Date: 2022-12-15 · published 2022-12-15T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/38478-bank-of-england-raises-rates-to-3-5-says-inflation-has-peaked
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

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.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/bank-england-delivers-8th-final-122859686.html
- euronews.com: https://www.euronews.com/2022/12/15/britain-markets-boe-instantview

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