# UPDATE 1-Bank of Korea's Rhee says 'little bit premature' for policy pivot - CNBC | Kitco News

> 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.

- Date: 2023-05-03 · published 2023-05-03T12:00:00.000Z
- Category: policy · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/36202-update-1-bank-of-korea-and-apos-s-rhee-says-and-apos-little-bit-premature-and
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

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.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-05-02/update-1-bank-koreaaposs-rhee-says-aposlittle-bit-prematureapos-policy

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