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The Bank of Korea cut its key interest rate by 0.25 percentage points to a record low of 0.50%, as widely expected. It downgraded its 2020 growth forecast to a 0.2% contraction, which would be the sharpest since the 1998 Asian financial crisis, and cut its inflation forecast to 0.3%.
Lower Korean rates and a deeper recession weaken the won and reduce Korean demand for imported feed and food, though Korea is a small buyer relative to China. The price impact on grain and oilseed markets is limited.
forexcrunch.comFX StreetMay 28, 2020Not 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.
