# Bank of England holds rates steady, confounding expectations | AP News

> The Bank of England kept its main rate at 0.1% despite a sharp rise in consumer prices driven by energy costs and labour shortages. Markets had widely expected a hike. The decision surprised investors and weighed on sterling.

- Date: 2021-11-04 · published 2021-11-04T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/44293-bank-of-england-holds-rates-steady-confounding-expectations-ap-news
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Surprise BoE policy holds weaken sterling and shift rate expectations, which feeds into the broader dollar trade that affects commodity pricing. Direct effects on feed markets are minor.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- apnews.com: https://apnews.com/article/business-europe-economy-prices-inflation-ffd28c2844156a161cd089f35d6616e6

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