# Korean central banker says a lot has changed in recent weeks

> Bank of Korea Governor Rhee Chang-yong said the central bank is focused on inflation, which reached 5.4% in May. The bank projects inflation to rise further in the second half, citing higher crude oil and wheat prices.

- Date: 2022-06-21 · published 2022-06-21T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/41194-korean-central-banker-says-a-lot-has-changed-in-recent-weeks
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Rising oil and wheat prices feed through to Korean inflation and monetary policy, and a policy focus on inflation supports a firmer stance on rates, which can support the won.

## Read by commodity

- WTI: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-08-02 | [Australian volume needed as Asia seeks extra 20Mt of wheat - Grain Central](https://feedsoft.ai/events/63425-australian-volume-needed-as-asia-seeks-extra-20mt-of-wheat-grain-central.md) | +3.5% | +1.5% |
| WHEAT | 2025-04-09 | [Feedgrain Focus: Weak dollar lifts values - Grain Central](https://feedsoft.ai/events/25180-feedgrain-focus-weak-dollar-lifts-values-grain-central.md) | +1.4% | +5.0% |
| WHEAT | 2020-12-22 | [Australian dollar tipped to hit 80 US cents on back of coronavirus recovery and China's demand for steel - ABC News](https://feedsoft.ai/events/49898-australian-dollar-tipped-to-hit-80-us-cents-on-back-of-coronavirus-recovery-and.md) | +0.2% | +7.6% |
| WHEAT | 2016-06-03 | [Wheat prices surge over one percent before the weekend](https://feedsoft.ai/events/9127-wheat-prices-surge-over-one-percent-before-the-weekend.md) | +4.2% | -3.7% |
| WHEAT | 2017-05-22 | [Commodities Relief Rally As U.S. Dollar Breaks Down - InvestingHaven](https://feedsoft.ai/events/10222-commodities-relief-rally-as-u-s-dollar-breaks-down-investinghaven.md) | +2.9% | +2.4% |
| WTI | 2022-03-07 | [Should surging commodities challenge hawkish central banks? \| Lombard Odier](https://feedsoft.ai/events/42206-should-surging-commodities-challenge-hawkish-central-banks-lombard-odier.md) | -5.5% | -14.2% |
| WTI | 2021-12-16 | [Canadian dollar rallies as more central banks move on inflation - The Globe and Mail](https://feedsoft.ai/events/43854-canadian-dollar-rallies-as-more-central-banks-move-on-inflation-the-globe-and.md) | +2.7% | +15.7% |
| WTI | 2021-01-21 | [Baht rate unchanged as all eyes on key BOT meeting](https://feedsoft.ai/events/49400-baht-rate-unchanged-as-all-eyes-on-key-bot-meeting.md) | -0.7% | +13.6% |

## Sources

- koreajoongangdaily.com: https://www.koreajoongangdaily.com/business/korean-central-banker-says-a-lot-has-changed-in-recent-weeks/11199496

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