# (3rd LD) BOK delivers another big-step rate hike, says more increases warranted | Yonhap News Agency

> 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.

- Date: 2022-10-12 · published 2022-10-12T12:00:00.000Z
- Category: macro · region South Korea · magnitude medium
- Page: https://feedsoft.ai/events/39377-3rd-ld-bok-delivers-another-big-step-rate-hike-says-more-increases-warranted
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

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.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- en.yna.co.kr: https://en.yna.co.kr/view/AEN20221012001053320

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