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The Bank of England's Monetary Policy Committee voted unanimously to keep Bank Rate at 0.75% and to hold its corporate and government bond purchase programmes unchanged. The committee said global growth has softened, financial conditions have tightened, and Brexit uncertainty has intensified.
It also noted that lower oil prices should support demand and push UK CPI inflation below 2% in coming months.
A steady rate with a weaker growth outlook tends to weigh on sterling against the dollar, which affects the cost of US dollar-priced feed ingredients for UK buyers. Lower oil prices also reduce energy and freight costs.
bankofengland.co.ukDec 20, 2018Not 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.
