FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Finance Ministry of South Korea said yesterday that it is planning a KRW15trn (USD13.5bn) stimulus package to boost the economy.
Acording to Commerzbank, the main motivations of the stimulus are
- 1) to offset the negative impact arising from MERS
- 2) counter the ongoing drought which is at its worst in nearly four decades
The Finance Ministry downgraded 2015's growth forecast to 3.1% from 3.8% previously from 3.3% in 2014, notes Commerzbank. 2015 inflation was also slashed to 0.7% from 2% previously, with inflation hovering around a near 15-year low of 0.5% in recent few months. For USD-KRW, it is holding at the upper end of the 1100-1120 range of the past month.
