# BoE becomes first major central bank to raise rates since pandemic | Reuters

> The Bank of England became the first major central bank to raise rates since the pandemic, lifting its rate from 0.1%. Sterling rose almost a cent against the dollar to its highest since Nov. 30, and two-year gilt yields climbed as much as 9 basis points.

- Date: 2021-12-16 · published 2021-12-16T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/43861-boe-becomes-first-major-central-bank-to-raise-rates-since-pandemic-reuters
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Tighter UK policy strengthens the pound and can weigh on dollar-priced commodities imported by the UK. For feed buyers the effect is indirect, mainly through sterling-based import costs.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/europe/inflation-risk-omicron-slowdown-boe-rate-move-balance-2021-12-16/

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