# Bank of England delivers a cautious hike | articles | ING THINK

> ING reports that the Bank of England raised its Bank Rate to 0.75% on March 17 with a more cautious tone, and the 8-1 vote was more dovish than February's split. The war in Ukraine is expected to push near-term UK inflation to about 8% in April. ING pencils in a fourth hike for May but sees a good chance of a pause afterward.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/42526-bank-of-england-delivers-a-cautious-hike-articles-ing-think
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A slower hiking path and a growth hit from the energy shock weaken sterling against the dollar and reduce the pound's appeal. For feed buyers, the outlook points to a softer pound and a more expensive UK energy and fertiliser backdrop.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- think.ing.com: https://think.ing.com/articles/bank-of-england-delivers-a-cautious-hike/

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