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 predict the Bank of Korea (BOK) will maintain its benchmark interest rate at 3 percent during its upcoming policy meeting later this week, according to a survey released Sunday. The Yonhap News Agency surveyed six economists, all of whom stated they anticipate the Monetary Policy Board to keep the key rate steady at its Thursday meeting.
They argue that the central bank requires time to evaluate market conditions after raising the benchmark rate twice consecutively in July and August. Joo Won, a senior researcher at Hyundai Research Institute, stated that three consecutive rate hikes could impose a substantial burden on households and domestic companies. Park Seok-gil, an economist at JPMorgan Korea, believes the BOK will carefully analyze economic indicators due to the shifts in economic conditions over the past two months, noting that core inflation, excluding volatile food and energy prices, has dropped 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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