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BOK To Raise Rates On Thursday As Price Pressures Mount (RTRS Poll)

BOK

"South Korea's central bank will raise its key interest rate again on Thursday to fight inflation, according to a Reuters poll of economists, but they are divided on how high borrowing costs will be by the year-end."

  • "Inflation in South Korea accelerated to an almost 24-year high in July of 6.3% and was expected to continue to rise for a few more months, leaving the Bank of Korea (BOK) with little choice but to remain aggressive."
  • "All but one of the 36 economists polled Aug. 16-22 forecast the Bank of Korea will raise its policy rate by 25 basis points to 2.50% at its Aug. 25 meeting. One expected a 50 basis point hike. If the majority view prevails, it would take rates to twice where it was before the pandemic."
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletFixed Income BulletsHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletFixed Income BulletsHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

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