Loading…
Bank of Korea Governor Rhee Chang-yong said a rate cut this year would be premature because inflation is still above target. He added that pressure on the won from US tightening should ease as the Fed slows its hikes, and said a currency swap with the Fed was not appropriate.
Easing pressure on the won would reduce the local-currency cost of dollar-priced feed imports into Korea. The signal points to a stabilizing won, with no direct effect on grain prices.
kitco.comMay 3, 2023Not 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.
