# Bank Of England Forecast: Three Banks Favour February For Next Hike

> The Bank of England raised Bank Rate to 4%, with eight policymakers supporting a quarter-point increase and one preferring a half-point move. Goldman Sachs, Deutsche Bank and MUFG favor another increase in February, while other forecasts and the possibility of further energy-price pressure leave the timing and eventual peak uncertain.

- Date: 2026-11-08 · published 2026-11-08T21:09:28.458Z
- Category: macro · region United Kingdom · magnitude low
- Page: https://feedsoft.ai/events/87997-bank-of-england-forecast-three-banks-favour-february-for-next-hike
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Higher UK interest rates may support sterling, potentially lowering the local cost of dollar-priced feed imports; there is no direct supply or demand change for agricultural commodities. The rate outlook is still uncertain, limiting a firm currency-price implication.

## Read by commodity

- EURUSD: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-11-02 | [Bank Rate increased to 0.50% - November 2017 \| Bank of England – the UK's central bank](https://feedsoft.ai/events/68228-bank-rate-increased-to-0-50-november-2017-bank-of-england-the-uk-s-central-bank.md) | -0.2% | +2.5% |
| EURUSD | 2021-01-28 | [FX: Challenging our bearish dollar forecast \| articles \| ING THINK](https://feedsoft.ai/events/49343-fx-challenging-our-bearish-dollar-forecast-articles-ing-think.md) | -0.6% | +1.1% |
| 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 | 2023-11-27 | [EUR/USD Weekly Forecast: Outlook Turning Brighter for Europe \| Investing.com](https://feedsoft.ai/events/33382-eur-usd-weekly-forecast-outlook-turning-brighter-for-europe-investing-com.md) | -0.5% | +0.7% |
| 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% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/47706/2026-11-08-bank-of-england-forecast-three-banks-favour-february-for-next-hike.html

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