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BoK Raises Inflation/Lowers Growth Forecasts for 2022 & 2023

BOK

The BoK has raised its inflation forecast for 2022. It now sits at 5.2%, versus 4.5% previously. The 2022 growth forecast has been nudged down to 2.6% from 2.7% previously. These moves are broadly in line with market expectations. For 2023, inflation is expected at 3.7% (versus 2.9% previously), while the growth outlook has been pushed down to 2.1% from 2.4% for 2023.

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