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The Bank of Korea raised its benchmark seven-day repo rate from 2.5% to 3%, its fifth straight increase and second 50-basis-point move. It said further continued hikes are warranted because inflation is high, partly due to the won's slide against the dollar that raises import prices.
Higher Korean rates support the won and may slow domestic demand for meat and feed. The impact on global feed prices is limited, but the hike signals tighter financial conditions for importers.
en.yna.co.krOct 12, 2022Not 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.
