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MNI BoK Preview - Feb 2024: On Hold, No Rush To Easing Bias

BOK
  • The strong consensus for tomorrow’s BOK meeting is no change in rates. All of the economists surveyed by Bloomberg look for the policy rate to remain at 3.50%. This is also our firm bias.
  • Whilst inflation has continued to track lower since the last policy meeting, the BoK is likely to want more time to assess the likelihood of a return to the 2% target.
  • Growth dynamics have improved, particularly in terms of survey measures, which also argues for not rushing towards a dovish pivot.
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