# Pound jumps on Bank of England Governor's rate rise hint - BBC News

> The pound rose nearly 1% against the dollar to about $1.2936 after Bank of England Governor Mark Carney said some removal of monetary stimulus is likely to become necessary. He tied any change to whether business investment could offset weaker consumer spending. Inflation is 2.9%, and the MPC voted 5-3 to hold rates at 0.25% in June.

- Date: 2017-06-28 · published 2017-06-28T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/70748-pound-jumps-on-bank-of-england-governor-s-rate-rise-hint-bbc-news
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer pound and a shift toward higher UK rates change the currency backdrop for UK-linked feed and commodity trade. The effect on grain and feed prices is indirect and modest.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-03 | [Sterling plunges 1% after Bank of England governor's comments on rates](https://feedsoft.ai/events/28097-sterling-plunges-1-after-bank-of-england-governor-s-comments-on-rates.md) | +1.1% | +2.7% |
| DXY | 2017-06-29 | [GBP/USD Rate Rises As Bank Of England Hint At Interest Rate Increase - Currency Live](https://feedsoft.ai/events/70750-gbp-usd-rate-rises-as-bank-of-england-hint-at-interest-rate-increase-currency.md) | +0.3% | -1.7% |
| DXY | 2026-01-01 | [Sterling keeps rising after the Bank of England raised the bar on rate cuts](https://feedsoft.ai/events/21759-sterling-keeps-rising-after-the-bank-of-england-raised-the-bar-on-rate-cuts.md) | +0.3% | -1.5% |
| DXY | 2022-07-28 | [Dollar Vs Pound: Greenback Could Drop on Big Bank of England Rate Hike - Markets Insider](https://feedsoft.ai/events/40756-dollar-vs-pound-greenback-could-drop-on-big-bank-of-england-rate-hike-markets.md) | -0.3% | +0.2% |
| DXY | 2025-02-06 | [Yen hits 8-week high; sterling drops after Bank of England rate cut](https://feedsoft.ai/events/26320-yen-hits-8-week-high-sterling-drops-after-bank-of-england-rate-cut.md) | +0.3% | -1.5% |

## Sources

- bbc.co.uk: https://www.bbc.co.uk/news/business-40427865

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