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The Bank of England's Monetary Policy Committee voted 7-2 to raise Bank Rate by 0.25 percentage points to 0.5%, its first hike in a decade. Asset purchase stocks were held unchanged, and the committee said future increases would be gradual and limited.
Higher UK rates support sterling in principle, but the dovish guidance limits expected tightening, so the rate path matters more than this single move for GBP-linked currency and freight-cost pricing for feed importers.
bankofengland.co.ukNov 2, 2017After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
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.
