# Sterling rockets against dollar after Bank of England reveals interest rate decision | The Independent | The Independent

> Sterling jumped against the dollar and euro after the Bank of England held rates at 0.5% but voted 6-3, with chief economist Andy Haldane switching to support a hike. The minutes signalled that an August rate increase was more likely. Sterling gained almost a cent against the dollar.

- Date: 2018-06-21 · published 2018-06-21T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/64785-sterling-rockets-against-dollar-after-bank-of-england-reveals-interest-rate
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A hawkish shift in BoE policy lifted sterling, which lowers the sterling cost of dollar-priced feed commodities for UK buyers and can soften import costs.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- independent.co.uk: https://www.independent.co.uk/news/business/news/pound-sterling-jumps-dollar-gbp-usd-exchange-rate-bank-of-england-interest-hold-a8409666.html

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