CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BoK Preview - July 2024: Steady Hand, Focus On H2 Easing

EXECUTIVE SUMMARY

  • None of the economists surveyed by Bloomberg see a change at tomorrow’s BoK policy meeting. This is also our strong bias. A recent Reuters poll indicated the consensus expects the BoK to start easing in Q4 of this year. Given this backdrop, and outside of a surprise move, much of the focus for tomorrow’s meeting outcome will be around timing of the first easing in H2 2024.
  • Inflation trends remain favorably, although the BoK may still want more time to assess confidence in achieving the 2% target. Sell side focus is on a start to the easing cycle in August or October. Our own bias rests more for an October rather than August easing. This reflects recent remarks by Governor Rhee, along with no pressing need to ease earlier from a growth standpoint. However, it is clearly a close call.
  • The the KORIBOR curve (1-month vs. 12-month) has bull-flatten to an historically inverted level. At -11bps, the current level mirrors that of mid-2019, which followed shortly after the BoK initiated its previous easing cycle.
  • Full preview:

    • BoK Preview - July 2024.pdf


Asia Bank - PreviewBank of Korea - PreviewHomepageEM Central Bank ReportsEM Central Bank PreviewEmerging Market News
Asia Bank - PreviewBank of Korea - PreviewHomepageEM Central Bank ReportsEM Central Bank PreviewEmerging Market News

To read the full story

Close

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.