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The Bank of England raised its policy rate to 3% from 2.25% on November 3, 2022, its largest increase since 1989. The bank warned of a very challenging economic outlook and forecast inflation reaching a 40-year high.
Tighter UK monetary policy strengthens sterling via rate expectations but deepens the expected recession, weighing on UK demand for feed and meat. Currency moves affect the cost of imported feed ingredients priced in dollars.
reuters.comNov 3, 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.
