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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Daily Summary: Wednesday, December 11
MNI BoK Preview - February 2023: A Hawkish Hold
EXECUTIVE SUMMARY
- The BoK faces a delicate balancing act at the current juncture. Inflation pressures have moved off 2022 highs, but remain elevated from an historical standpoint. Inflation expectations have ticked higher over the last few months, although through much of 2021 and 2022 headline inflation led expectations rather than the other way around. While there are some signs of easing services related inflation pressures, the BoK is likely to want to see more evidence of such trends before being more comfortably around the outlook.
- On the growth side, momentum has clearly cooled. External headwinds persist, particularly in the tech space, while domestic demand is showing signs of the cumulative rate hikes over the past 18 months. Such a growth backdrop warrants caution in terms of additional rate hikes.
- Fed developments have also turned more hawkish since January, which has helped push USD/KRW back above 1300, some 7% above early February lows. This is also likely to bias the BoK away from sounding too dovish, at the margins.
- See the full preview here:
BoK Preview - February 2023.pdf
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.