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KOREA RATES

The South Korean MOF will today sell KRW 100bn 10-year inflation linked paper, issue KTBi 01125-3006. Results due after 0330BST/1030HKT.

  • The MOF last sold inflation linked debt on April 23, the sale drew an average yield of 0.720% and was covered 2.65x.
  • Inflation in South Korea hit a nine-year high in May with the increase attributed to a low base effect and rises in oil and agricultural prices. The BoK sees inflation standing at 1.8% for the whole of 2021 and 1.4% for 2022, the release of the BoK minutes this week showed the board has turned more hawkish with four board members saying it was time to consider when it would be appropriate to tighten policy.

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