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MNI BoK Preview - Aug'21: Knife's Edge

Executive Summary:

  • Out of 19 analysts surveyed by Bloomberg 10 expect no change, 9 expect a 25bps hike
  • Rhetoric has been hawkish but the outlook is clouded by the surge in coronavirus cases
  • The departure of last month's sole dissenter further complicates the outlook
  • Household debt, a key concern for the BoK, hit record levels in Q2
  • Split of the vote will be scrutinised for future path of hikes; one and done, gradual hikes, October meeting live are all options

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BoK preview Aug 2021.pdf

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