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SOUTH KOREA: CPI Slips Below Target.

SOUTH KOREA
EM BulletAPACBulletSouth KoreaGlobalEmerging Market NewsRegion

 

  • Against a target of 2.0%, South Korea’s CPI printed today at 1.6% yoy for September.
  • Korea is in a push pull environment with respect to interest rates with the Bank of Korea focused on the strength of house prices whilst the government is focused on the declining consumer sentiment (largely driven by rising house prices).
  • The decline in CPI now provides the backdrop for a cut in rates.  It is now with the BOK to decide whether they can cut rates without fuelling further growth in house prices in Seoul. 
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  • Against a target of 2.0%, South Korea’s CPI printed today at 1.6% yoy for September.
  • Korea is in a push pull environment with respect to interest rates with the Bank of Korea focused on the strength of house prices whilst the government is focused on the declining consumer sentiment (largely driven by rising house prices).
  • The decline in CPI now provides the backdrop for a cut in rates.  It is now with the BOK to decide whether they can cut rates without fuelling further growth in house prices in Seoul.