South Korea: BoK could extend the pause this month – UOB – by pabspiovano SouthKorea CentralBanks Banks InterestRate
“The Bank of Korea is likely to extend its interest rate pause at the upcoming monetary policy decision on 25 May. BOK’s signal regarding future policy actions will be the key focus of the meeting.”
“Inflation remains a concern especially the core inflation which had stayed elevated. The depreciation in KRW adds to imported inflation while a second 5.3% hike in electricity prices will also contribute to the inflationary pressure in South Korea.”set to pause its rate hike cycle, we think the BOK is likely to start to tone down its hawkish bias in 2H23 and start to lower interest rate in 1Q24 if inflation cools sufficiently.
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