-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI STATE OF PLAY: BOK Seen Unmoved By High Property Prices
The Bank of Korea is wary of the spike in property prices due to its prolonged easy policy but a rate hike is unlikely given the fragility of the economic recovery and surging virus infections.
While acknowledging that this year's recovery will be faster than expected, BOK Chairman Lee Juyeol has also said that South Korea's current economic conditions don't warrant any adjustments to monetary policy settings, indicating the central bank will stand pat when it meets this week.
The policy interest rate has stayed at a record low 0.5% since May 2020.
Property prices across Korea rose by 10% y/y in February, the fastest pace since 2007, as speculative investment surged amid low interest rates. Price gains have been especially high in the greater Seoul area.
Bank officials continue to watch asset price trends as other indicators improve.
SERVICE SECTOR RECOVERY
The unemployment rate fell to 4.0% in February from a 21-year high of 5.4% in January as service sectors hardest hit by the coronavirus continued to recover.
Exports rose 16.6% y/y in March for the fifth straight rise, accelerating from +9.5% in February, thanks to solid global demand for semiconductors and will continue to be supported by the stronger global growth that the International Monetary Fund expects for this year.
However, resurgent virus cases have prompted caution. South Korean Prime Minister Chung Sye-kyun said on Friday that the country will extend current social distancing rules for three more weeks, prohibiting private meetings among five or more people.
The IMF recently forecast the global economy would grow 6.0% this year, higher than its earlier estimate of 5.5% in January. Its World Economic Outlook also raised South Korea's GDP forecast for this year to 3.6% from 3.1% earlier.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.