South Korea: BoK tightening cycle over? – UOB – by pabspiovano SouthKorea CentralBanks Banks InterestRate
Economist at UOB Group Ho Woei Chen assesses the latest monetary policy meeting by the Bank of Korea .“As expected, Bank of Korea raised its benchmark 7-day repo rate by 25bps to 3.50% , the highest level since Dec 2008.”
“Barring a change to global inflation trajectory where price gains are expected to slow this year, we maintain our view that the latest rate hike has marked the end of BOK’s tightening cycle.”has deteriorated, the BOK suggested that it may further downgrade its GDP forecast at the Feb review from current 1.7% for 2023. The outlook for inflation is largely intact based on BOK’s assessment.”
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