MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BoK First Major Central Bank To Hike Rates

KRW

The won strengthens after the BoK hikes rates 25bps to 0.75%, USD/KRW last down 2.95 t 1164.55, compared to session lows of 1163.00 at the open. 1-week implied volatility for the pair has jumped to 7.71, up 0.35, following the announcement.

  • The decision was on a knife edge with 9 analysts surveyed by Bloomberg expecting a 25bps hike and 10 expecting no change. It would seem the BoK has prioritized concerns around household debt over the fourth wave worries.
  • The Bank also raises its 2021 CPI forecast to 2.1% from 1.8% previously, acknowledging supply chain constraints as the coronavirus impact economies worldwide, while 2022 CPI is seen 0.1ppts higher than previous at 1.5%. 2021 GDP is seen at 4%, in line with the previous estimate.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

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.