# Sterling sinks below $1.30 on Bank of England rate cut hints

> Sterling fell below $1.30 on January 13 after BoE policymaker Gertjan Vlieghe said upcoming meetings were "absolutely live" for a rate cut. The move followed weak GDP data showing UK growth at its slowest annual pace in over seven years.

- Date: 2020-01-13 · published 2020-01-13T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/55340-sterling-sinks-below-1-30-on-bank-of-england-rate-cut-hints
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expectations of BoE rate cuts weaken sterling, which raises the cost of dollar-priced feed imports for UK buyers.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2020/01/13/sterling-sinks-below-1point30-on-bank-of-england-rate-cut-hints.html

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