# Bank of England hikes rates in first back-to-back rise since 2004

> The Bank of England raised its main rate to 0.5% from 0.25% in a 5-4 vote, with four members preferring a 50 basis point increase. The bank also raised its inflation forecast to a 7.25% April peak and began quantitative tightening.

- Date: 2022-02-03 · published 2022-02-03T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/42942-bank-of-england-hikes-rates-in-first-back-to-back-rise-since-2004
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Tighter UK monetary policy and higher inflation expectations have limited direct effect on feed commodity prices, though higher borrowing costs weigh on UK livestock and feed sector finances.

## Sources

- cnbc.com: https://www.cnbc.com/2022/02/03/bank-of-england-hikes-rates-in-first-back-to-back-rise-since-2004.html

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