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VIEW: ANZ: Closer To Conclusion

BOK

ANZ note that “the Bank of Korea’s decision today to return to a smaller policy rate hike of 25bps was unanimous.”

  • “Easing FX risks, stress in domestic short-term financial markets and a deteriorating growth outlook were cited as factors behind the slower pace of tightening following its 50bp rate hike in October.”
  • “While the central bank signalled high inflation warrants more rate hikes, board members were divided on the terminal rate, with opinions ranging from 3.25-3.75%.”
  • “We maintain the view that the BoK’s rate hiking cycle is nearing an end and are sticking with our terminal policy rate forecast of 3.5%, to be reached in January 2023.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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