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Futures Lower After BoK

KOREA RATES

10-year futures lower as the BoK keeps rates on hold and upgrades its GDP and CPI forecasts. The contract down 21 pips at 125.43. The bank said it would maintain its accommodative stance and that COVID-19 uncertainty remains. The also noted that the recovery is now being driven by exports and domestic demand. Markets now await a speech from BoK Gov Lee at 0320BST/1120KST. Later, the MOF will release the June government bond sales plan, due at 0900BST/1700KST.

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