South Korea: BoK seen on hold this month – UOB

Economist at UOB Group Lee Sue Ann expects the BoK to maintain its policy rates unchanged at its event later in the week.

Key Quotes

With economic growth taking the precedence, it would take a lot more for the BOK to embark on another rate hike this year. Thus, conditions for the BOK to begin reversing some of its 300bps hike in the current tightening cycle are unlikely to be met this year.

We expect the BOK to remain on hold for the final two meetings this year on 19 Oct and 30 Nov.