Base rate to 2.5% (from 2.25%)
Forecast revisions from the Bank:
- lowers 2022 growth outlook from 2.7% to 2.6%
- growth forecast for 2023 is 2.1%
- raises 2022 inflation outlook from 4.5% to 5.2%
- 2023 CPI forecast is 3.7%
-
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Bank of Korea rate hike +25bps as expected
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