# UK interest rates: Pound sterling drops sharply after Bank of England hike | The Independent | The Independent

> The Bank of England raised its base rate from 0.5% to 0.75% in a unanimous vote, but sterling fell about 0.8% against the dollar. Carney signalled a path of gradual further tightening, yet traders did not price in another hike before year-end.

- Date: 2018-08-02 · published 2018-08-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/63783-uk-interest-rates-pound-sterling-drops-sharply-after-bank-of-england-hike-the
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

The rate decision mainly affects UK financial conditions and sterling. Its effect on feed commodities is negligible beyond small currency-driven shifts in dollar strength.

## Sources

- independent.co.uk: https://www.independent.co.uk/news/business/news/uk-interest-rates-latest-pound-sterling-gbp-usd-eur-exchange-rate-dollar-bank-of-england-a8474451.html

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