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MNI BoK Preview - January 2024: Steady, Too Early For Rate Cuts

EXECUTIVE SUMMARY

  • The BoK is widely expected to hold steady at tomorrow's policy meeting. Focus is likely to be on any dovish hints from the central bank, as rate cuts are projected later this year.
  • It is too soon for a dovish pivot though, given still elevated inflation pressures, particularly relative to BoK's target rate. The central bank has time on its hand to assess conditions in early 2024 before turning more dovish.
  • The other focus for the central bank is likely to be developments in the financial sector, particularly from a stability standpoint.
  • Full preview:
  • BoK Preview - Jan 2024.pdf


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