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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessBoK 2023 Growth & Inflation Forecasts Nudged Lower, Muted Market Reaction
The BoK left rates on hold at 3.50%, in line with market expectations. Forecast for 2023 and 2024 were revised, but only a touch. Growth for 2023 nudged down to 1.6% form 1.7% in Nov last year, while inflation to 3.5% from 3.6% prior. For 2024 is seen slightly firmer at 2.4% (2.3% prior), inflation at 2.6% (2.5% prior).
- The market reaction hasn't been large, USD/KRW is a touch higher in spot terms, last in 1305/06 range, only slightly up on yesterday's closing levels. There hasn't been much USD follow through strength though.
- KTB futures are higher as well (3yr got to +16 ticks post the announcement), while the Kospi is in positive territory (+0.25/0.30%), but this is more reflective of higher US Nasdaq futures, buoyed by better earnings results.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.