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Sterling fell 0.45% against the dollar to $1.2874 and 0.13% against the euro after the Bank of England cut its 2019 growth forecast to 1.2%. The central bank put the chance of a recession in the second half of 2019 at about one in four.
The MPC held rates at 0.75%.
A sharp fall in the pound raises the sterling cost of dollar-priced imports, which can soften UK feed demand and shift import pricing, though global grain prices are largely unaffected.
independent.co.ukCaitlin MorrisonFeb 7, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
