# South Korea's central bank joins peers in historic half-point rate hike

> The Bank of Korea raised its benchmark rate by 50 basis points to 2.25% on July 13, its largest hike since adopting the current policy system in 1999. The move followed inflation at its fastest pace in 24 years and a won that had lost 9.4% against the dollar that year.

- Date: 2022-07-13 · published 2022-07-13T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/40725-south-korea-s-central-bank-joins-peers-in-historic-half-point-rate-hike
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Tighter Korean monetary policy aimed at supporting the won can lower import inflation for feed buyers, though the effect on grain prices is indirect.

## Read by commodity

- USDKRW: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2022/07/13/south-koreas-central-bank-joins-peers-in-historic-half-point-rate-hike.html

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