South Korea: BoK paused its tightening cycle in April – UOB – by pabspiovano SouthKorea CentralBanks Banks InterestRate
Economist at UOB Group Ho Woei Chen reviews the latest monetary policy meeting by the Bank of Korea .“In line with consensus expectation, BOK maintained its rate pause in Apr as it kept its benchmark 7-day repo rate unchanged at 3.50% for the second consecutive month. The rate decision was unanimous unlike the previous meeting in Feb when one policy board member voted for a 25bps hike.”
“However, the case for a further rate hike has weakened and we continue to expect the BOK to remain on hold at 3.50% for the rest of 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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