93% of bond experts eye rate freeze this week: poll

A recent poll in South Korea reveals that an overwhelming 93% of bond market experts anticipate the central bank, the Bank of Korea, will maintain its key interest rate unchanged for the month of October, according to a report released on Tuesday. Conducted by the Korea Financial Investment Association, the survey of bond market managers indicates that the majority of respondents predict the Bank of Korea (BOK) to hold its policy rate steady during a scheduled meeting on Thursday.

Many bond specialists opine that the BOK requires time to thoroughly analyze market conditions following two consecutive rate hikes in July and August. In a parliamentary audit last week, BOK Governor Shin Hyun-song hinted at a potential pause, stating, "When we conduct monetary policy, we always assess how much time economic agents need to adapt and evaluate their ability to do so."

The association's bond market survey index (BMSI) for November stands at a high 99.1, up from 89.7 for October, suggesting an increasing expectation of deteriorating bond market conditions.