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The Bank of England lifted UK rates to 3% in its largest hike since 1989 and warned of a very challenging outlook. Sterling fell as much as 2% against the dollar to a session low of $1.1162 after the decision.
The sharp sterling drop and weaker UK growth outlook reduce British buying power for imported feed inputs. The rate move is a macro driver rather than a direct grain supply factor.
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.
