# Bank of Korea defies expectations of 0.25% rate cut - Forex Crunch

> The Bank of Korea held its benchmark rate at 1.0% despite most analysts expecting a 0.25-point cut. USD/KRW rose to an intraday high of 1,216.42 as coronavirus cases reached 1,595 and the US and South Korea postponed joint military drills.

- Date: 2020-02-27 · published 2020-02-27T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/54826-bank-of-korea-defies-expectations-of-0-25-rate-cut-forex-crunch
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A surprise hold keeps Korean financing conditions tight amid the outbreak, and the won's weakness reflects reduced regional growth expectations that weigh on commodity demand.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/02/27/bank-of-korea-defies-expectations-of-0-25-rate-cut/

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