Analysts forecast BOK to hold benchmark rate unchanged at upcoming meeting: poll
Local economic experts expect the Bank of Korea (BOK) to keep its benchmark interest rate unchanged at its upcoming policy meeting later this week, with a possible rate hike at its next meeting, a survey showed Sunday. According to the survey on six economists conducted by Yonhap News Agency, all expected the BOK's Monetary Policy Board to hold the key rate steady at 3 percent at its meeting…
Local economic experts anticipate the Bank of Korea (BOK) to maintain its benchmark interest rate at 3 percent during its upcoming policy meeting later this week, with the possibility of a rate increase at the following meeting, according to a survey published Sunday by Yonhap News Agency. Six economists surveyed unanimously predicted the BOK's Monetary Policy Board would keep the key rate stable at 3 percent during the meeting scheduled for Thursday.
They emphasized that the central bank requires time to evaluate market conditions following a series of two consecutive rate hikes in July and August. Joo Won, a senior researcher at Hyundai Research Institute, cautioned that three consecutive rate hikes could impose a substantial burden on households and domestic companies. JPMorgan Korea economist Park Seok-gil stated that the BOK is likely to pause this time to assess the impact of the previous rate hikes, considering the alterations in economic conditions over the past two months. Notably, core inflation, which excludes volatile food and energy prices, has fallen to 2.8 percent.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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