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Economist at UOB Group Ho Woei Chen, CFA, reviews the latest BoK monetary policy meeting.
“In line with consensus and our expectation, Bank of Korea (BOK) extended its interest rate pause… keeping the benchmark 7-day repo rate at 3.50% for the third consecutive meeting. However, BOK’s tone turned out to be more hawkish than expected.”
“The central bank also updated its economic forecasts today as it sees higher core inflation and slower growth in 2023.”
“For now, we think BOK’s hands are tied but it should start to tone down its relatively more hawkish rhetoric as US’ Fed rate peaks and provide early signals for interest rate cuts that are likely to materialize nearly next year as inflationary pressure eases sufficiently. We maintain our call for the BOK to start cutting interest rate in 1Q24
風險提示:本文所述僅代表作者個人觀點,不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證,對於基於該內容所採取的任何行為,不承擔任何責任,除非另有書面明確說明。

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