# Asia-Pacific stocks: Bank of Korea announces second straight rate hike

> The Bank of Korea raised its base rate 25 basis points to 1.75%, its second straight hike, on May 26. The won traded at 1,266.51 after the decision, and Asian equities were mixed after hawkish Fed minutes.

- Date: 2022-05-25 · published 2022-05-25T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/41633-asia-pacific-stocks-bank-of-korea-announces-second-straight-rate-hike
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Rate hikes and a firmer won modestly lower the cost of imported feed ingredients for Korean buyers, with no direct supply effect on grains.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- cnbc.com: https://www.cnbc.com/2022/05/26/asia-markets-us-federal-reserve-currencies-oil.html

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