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The Bank of England raised its Bank Rate by 25 basis points to 0.75% in an 8-1 vote, with Deputy Governor Jon Cunliffe dissenting in favour of holding. The central bank softened its language on further tightening, citing the energy shock from the Ukraine war.
Sterling fell more than a cent against the dollar after the decision.
A more cautious BoE weakens sterling support and keeps rate expectations contained, while the energy-driven inflation spike squeezes UK demand. For feed buyers, a firmer dollar relative to the pound can make dollar-priced imported feed ingredients slightly cheaper for UK buyers.
reuters.comMar 17, 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.
