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VIEW: Goldman Nudge Terminal Rate Call Higher

BOK

Goldman Sachs note that "given the hawkish tone of the Fed and the BoK around the Jackson Hole event, we modify our policy rate views for Korea. We adjust our BoK terminal rate view from 2.75% by end-2022 to 3.00%, but do not foresee compelling macro underpinnings to induce further tightening extended into 2023, given the prospects of meaningful disinflation next year and sharp slowdown in activity below 2.0% sequentially, which is the lower end of Korea's potential growth estimate range."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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