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Economists Expect Rates On Hold, Possible Q4 Easing

BOK

A Reuters poll is showing that all 40 economists surveyed expect the Bank of Korea to be on hold at 3.5% for the third meeting when it convenes on Thursday as it continues to evaluate the impact of its tightening so far. But analysts are divided over whether there will be a rate cut by year end.

  • None of the economists surveyed believed that rates would rise by year end. 17 of 33 expected at least 25bp of easing by end-2023, while the rest expected rates to remain at 3.5%.
  • Growth is forecast to ease to 1.2% in 2023 after 2.6% last year.
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