# BOK Official: Premature to decide on rate cuts to counter virus impact, USD/KRW at seven-week high - Forex Crunch

> A Bank of Korea senior deputy governor said it is too early to decide on further monetary easing to counter the coronavirus's economic impact. The BOK kept its key rate at 1.25% at its January 17 meeting. USD/KRW held near a seven-week high of 1,184.01 amid concern over the virus spread in China.

- Date: 2020-01-30 · published 2020-01-30T12:00:00.000Z
- Category: macro · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/55316-bok-official-premature-to-decide-on-rate-cuts-to-counter-virus-impact-usd-krw
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Won weakness raises the local cost of dollar-priced feed imports for Korea, while the lack of near-term rate cuts supports the currency. The move is modest and the impact on feed prices is limited.

## Read by commodity

- USDKRW: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/01/30/bok-official-premature-to-decide-on-rate-cuts-to-counter-virus-impact-usd-krw-at-seven-week-high/

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