# Bank Rate increased to 0.50% - November 2017 | Bank of England – the UK's central bank

> 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.

- Date: 2017-11-02 · published 2017-11-02T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/68228-bank-rate-increased-to-0-50-november-2017-bank-of-england-the-uk-s-central-bank
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: neutral
- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-09-12 | [European Central Bank cuts interest rates again and lowers growth forecasts](https://feedsoft.ai/events/28530-european-central-bank-cuts-interest-rates-again-and-lowers-growth-forecasts.md) | +0.9% | -0.6% |
| EURUSD | 2017-12-01 | [EUR/USD holding on to the 1.17-1.20 range – Danske Bank — Octa](https://feedsoft.ai/events/67685-eur-usd-holding-on-to-the-1-17-1-20-range-danske-bank-octa.md) | -0.9% | +1.0% |
| EURUSD | 2024-07-18 | [European Central Bank holds rates, says domestic price pressures high](https://feedsoft.ai/events/29484-european-central-bank-holds-rates-says-domestic-price-pressures-high.md) | -0.7% | +0.8% |
| EURUSD | 2024-09-12 | [VIEW ECB delivers second rate cut of the year](https://feedsoft.ai/events/28528-view-ecb-delivers-second-rate-cut-of-the-year.md) | +0.9% | -0.6% |
| EURUSD | 2023-10-30 | [Ingredients Market Report: November 2023 - Unicorn Ingredients](https://feedsoft.ai/events/33753-ingredients-market-report-november-2023-unicorn-ingredients.md) | +1.3% | +3.9% |
| DXY | 2021-11-15 | [Bank of England says December Rate Hike "In Play"](https://feedsoft.ai/events/44294-bank-of-england-says-december-rate-hike-in-play.md) | +0.6% | +1.2% |
| DXY | 2017-10-30 | [Trading The FOMC Interest Rate Decision, November 1, 2017 \| Investing.com](https://feedsoft.ai/events/68660-trading-the-fomc-interest-rate-decision-november-1-2017-investing-com.md) | -0.2% | -1.6% |
| DXY | 2018-12-20 | [US Federal Reserve raises rates and trims outlook for 2019 rate increases  \| The National](https://feedsoft.ai/events/61493-us-federal-reserve-raises-rates-and-trims-outlook-for-2019-rate-increases-the.md) | -0.1% | -1.1% |

## Sources

- bankofengland.co.uk: https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2017/november-2017

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