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Busy Data Week Ahead, Headlined By BoK Decision

KOREA

Export figures, consumer and business sentiment, retail sales and the BoK decision headline a busy South Korean data calendar next week.

  • Monday delivers the first 20 days export and trade balance data for May. Recall that the first 10 days export data for May showed a further slowing in growth (using the daily average export data, 8.9% YoY).
  • Also out on the same day is consumer confidence figures. On Tuesday household credit and manufacturing and non-manufacturing sentiment is out.
  • On Wednesday retail sales and department store sales data are due.
  • On Thursday is the BoK decision. A 25bps hike is expected, taking the policy rate to 1.75%. Only 5 economists form part of the Bloomberg survey at this stage, but all 5 expect a 25bps hike.
  • A hike seems likely given continued upside surprises on domestic inflation. Note our full preview will be out next week.

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