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The Bank of Korea cut its policy rate by 25 basis points to 1.50%, a surprise to most of the market, with 15 of 25 Bloomberg survey participants expecting no change. The central bank cited a deepening slowdown in exports and construction investment and low inflation, and downgraded its growth and inflation forecasts.
A weaker won-supporting rate path and a slowing Korean economy reduce import demand for feed and agricultural goods, while lower rates can soften the won and weigh on dollar-linked commodity purchasing power.
think.ing.comJul 18, 2019Not 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.
