South Korea: BoK hikes by 25 bps – UOB – by pabspiovano SouthKorea CentralBanks Banks InterestRate
Economist at UOB Group Ho Woei Chen comments on the latest interest rate decision by the Bank of Korea .“Bank of Korea reverted to a smaller rate hike in Nov as it raised the benchmark base rate by 25bps to 3.25%, dialing down from 50bps hike in Oct. This is due to a less hawkish“The BoK kept its 2022 GDP growth forecast at 2.6% but sharply downgraded its forecast for 2023 to 1.7% from 2.1%.”
“This is BoK’s final meeting for 2022 and the next meeting will be on 13 Jan 23 where we now expect the central bank to hike for a final 25bps to 3.50% before staying on pause throughout 2023.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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