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The Bank of Korea raised its key rate 25 basis points to 0.75%, the first adjustment since cutting to a record low in May 2020. Governor Lee Ju-yeol signaled further hikes would depend on the coronavirus outlook and Fed policy.
The won finished at 1,170.5 per dollar, with bond yields barely moving.
The hike and hints of more tightening are a macro signal with little direct effect on feed commodity supply or demand. Currency moves against the dollar are the main channel for any impact on Korean feed purchasing costs.
koreatimes.co.krLee Min-hyungAug 26, 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.
