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The Bank of Korea raised its benchmark rate by 0.25 percentage point to 1%, ending 20 months at near-zero rates. It raised its 2021 inflation forecast to 2.3% and its 2022 forecast to 2%, and signaled room for another hike in early 2022.
The central bank kept its 2021 growth forecast at 4%.
Higher Korean rates and a firmer inflation outlook point to tighter domestic credit and possibly softer consumer demand for meat and dairy. Feed buyers face higher financing costs, though the direct effect on grain prices is limited.
en.yna.co.krNov 25, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
