# Bank of England under pressure to shelve interest rate rise | Bank of England | The Guardian

> The pound fell to its lowest level against the US dollar in more than three months after a double dose of weak UK economic data. Currency dealers concluded the Bank of England would drop plans to raise interest rates at its next meeting.

- Date: 2018-05-01 · published 2018-05-01T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/65250-bank-of-england-under-pressure-to-shelve-interest-rate-rise-bank-of-england-the
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A weaker pound raises the cost of imported feed ingredients priced in dollars for UK buyers and shifts the outlook for sterling-linked feed costs. The macro currency move is the main price driver here rather than any grain fundamental.

## Read by commodity

- GBPUSD: bearish ▼

## Sources

- theguardian.com: https://www.theguardian.com/business/2018/may/01/bank-of-england-under-pressure-to-delay-interest-rate-rise

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