# Bank of England Raises Interest Rates to 0.75% Amid Inflation Concerns

> The Bank of England raised rates to 0.75% on March 17 in an 8-1 vote after the US Federal Reserve's first hike since the pandemic. Deputy Governor Jon Cunliffe voted to hold, warning of a large hit to demand from higher commodity prices. Economists polled by Reuters had expected a unanimous vote for a hike, and market bets on further tightening were trimmed.

- Date: 2022-03-17 · published 2022-03-17T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/42528-bank-of-england-raises-interest-rates-to-0-75-amid-inflation-concerns
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Reduced tightening expectations weaken sterling and the pound-dollar exchange rate. Higher commodity prices squeezing UK demand are a headwind for UK livestock and feed demand.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/bank-of-england-raises-rates-in-8-1-vote/

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