# South Korea steps up inflation fight with back-to-back rate hikes

> The Bank of Korea raised its inflation forecast for 2022 to 4.5%, the highest since 2008 and more than double its 2% target. The bank cited surging commodity prices driven by the Ukraine war and supply chain snags.

- Date: 2022-05-26 · published 2022-05-26T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/41632-south-korea-steps-up-inflation-fight-with-back-to-back-rate-hikes
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher domestic rates aim to curb inflation but do little to change global feed grain supply; the story mainly reflects commodity-driven price pressure already in the market.

## Read by commodity

- SBM: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-05-14 | [Inflation forces building](https://feedsoft.ai/events/10235-inflation-forces-building.md) | +1.7% | -1.8% |
| CORN | 2017-02-22 | [Mexico to offer up to USD$20 billion in forex hedges to aid battered peso \| El Universal](https://feedsoft.ai/events/72717-mexico-to-offer-up-to-usd-20-billion-in-forex-hedges-to-aid-battered-peso-el.md) | -0.1% | -1.6% |
| CORN | 2023-07-25 | [Argentine IMF concessions risk further fueling red hot inflation](https://feedsoft.ai/events/35332-argentine-imf-concessions-risk-further-fueling-red-hot-inflation.md) | -13.4% | -17.1% |
| CORN | 2022-12-15 | [U.S. soybean futures fall; corn, wheat firm with focus on economy \| Reuters](https://feedsoft.ai/events/5520-u-s-soybean-futures-fall-corn-wheat-firm-with-focus-on-economy-reuters.md) | +2.2% | +4.0% |
| CORN | 2019-09-06 | [China cuts reserve ratio as it boosts stimulus amid trade woes \| The National](https://feedsoft.ai/events/57295-china-cuts-reserve-ratio-as-it-boosts-stimulus-amid-trade-woes-the-national.md) | -1.8% | +3.3% |
| SBM | 2023-04-27 | [Argentina seeks to tame inflation, peso with biggest rate hike since 2019 \| Financial Post](https://feedsoft.ai/events/36673-argentina-seeks-to-tame-inflation-peso-with-biggest-rate-hike-since-2019.md) | -0.7% | -6.2% |
| SBM | 2025-04-22 | [Argentina's surprise peso strength tempers fears of inflation comeback \| Reuters](https://feedsoft.ai/events/25426-argentina-s-surprise-peso-strength-tempers-fears-of-inflation-comeback-reuters.md) | -2.2% | -1.7% |
| SBM | 2025-01-30 | [Brazil central bank hikes rates by 100 bps, confirms same in March](https://feedsoft.ai/events/26712-brazil-central-bank-hikes-rates-by-100-bps-confirms-same-in-march.md) | -0.5% | -4.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/south-korea-steps-up-inflation-fight-with-back-to-back-rate-hikes-2022-05-26/

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