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The Bank of England is expected to raise its Bank Rate by 25 basis points to 4.00% on Thursday, its first increase since August 2023. Sterling has rallied into the decision, and GBP/USD and GBP/AUD are testing resistance.
Traders will focus on the MPC voting split, updated forecasts and guidance on further tightening.
A hawkish BoE and a firmer pound reduce the cost of dollar-priced feed imports for UK buyers, while a stronger pound against the dollar tends to weigh on dollar-denominated commodity prices.
forex.comMatt SimpsonNov 4, 2026Not enough comparable past events yet for a historical read.
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.
