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Modest Tweaks To CPI Forecasts, Still Seen Above Target In ‘24

BOK

Modest revisions were made to the BoK’s CPI projections, with the ’22 forecast now seen at 5.1%, while the ’23 forecast sits at 3.6%, both 0.1ppt lower vs. the Bank’s August projections. Meanwhile, the initial CPI forecast for ’24 sits at 2.5%, still above the Bank’s target of 2%.

  • Elsewhere, the Bank left its ’22 GDP growth forecast unchanged at 2.6%, while marking down its ’23 GDP growth forecast to 1.7% from 2.1%. The Bank issued an initial ’24 GDP growth forecast of 2.3%.
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Modest revisions were made to the BoK’s CPI projections, with the ’22 forecast now seen at 5.1%, while the ’23 forecast sits at 3.6%, both 0.1ppt lower vs. the Bank’s August projections. Meanwhile, the initial CPI forecast for ’24 sits at 2.5%, still above the Bank’s target of 2%.

  • Elsewhere, the Bank left its ’22 GDP growth forecast unchanged at 2.6%, while marking down its ’23 GDP growth forecast to 1.7% from 2.1%. The Bank issued an initial ’24 GDP growth forecast of 2.3%.