# UK: Money markets pricing 10 bps rate hike by September 2022 - Forex Crunch

> Money markets priced in a 10 basis point Bank of England rate increase by September 2022 after Chancellor Sunak's budget statement on March 3. Markets had previously expected rates to fall into negative territory in early 2022. GBP/USD held modest gains near 1.3970 despite broad dollar strength.

- Date: 2021-03-03 · published 2021-03-03T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/48378-uk-money-markets-pricing-10-bps-rate-hike-by-september-2022-forex-crunch
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations of higher UK rates support sterling, which slightly lowers the sterling cost of dollar-priced feed imports. The effect on feed prices is limited.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2021/03/03/uk-money-markets-pricing-10-bps-rate-hike-by-september-2022/

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