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BoK's Suh Echoes Sentiment Of Gov Lee

SOUTH KOREA

Some comments from BoK's Suh Young-kyung hitting the wires, Suh sticks to familiar refrains and notes that monetary policy remains accommodative after the recent BoK hike, echoing the sentiment of BoK Gov Lee who said that one or two hikes should be viewed as normalization, not tightening. Chatter of another hike at the upcoming BoK meeting on October 12 has intensified after a minister said yesterday that the government expects to transition back to normal life between October and November, this would entail easing social distancing rules for fully vaccinated people as well loosening restrictions on private gatherings. South Korean assets not responding to the comments, USD/KRW now in negative territory having retraced opening gains.

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