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EXECUTIVE SUMMARY

  • The Bank of Korea (BoK) will likely lift its policy rate by 25bp at its upcoming meeting, although the view among sell-side economists is not unanimous, with 13 of the 18 surveyed by Bloomberg looking for a hike this time around.
  • The case for the continued adjustment of the degree of monetary accommodation remains clear, it is more a question of timing and how much tightening is required.
  • A reminder that the BoK hiked rates by 25bp in November, while the next 25bp hike will take the Bank’s policy rate back to pre-COVID levels.
  • Click to view full preview:
  • BoK Preview - January 2022.pdf

Fig. 1: South Korea CPI & Core CPI (Y/Y)

Source: MNI - Market News/Bloomberg