A heads up for the Bank of Korea meeting today. Its listed on the calendar for 0100 GMT, as is the expected +25bp result, from 2.25% to 2.5%:
ANZ snippet preview:
“We expect the BoK to hike by 25 bps. Overall, we maintain that the BoK’s rate hiking cycle will end in 2022; we have pencilled in 25 bps hikes at each of its remaining three policy meetings (August, October and November) this year, bringing the policy rate to 3.0%.”
And, from ING:
“We expect the BoK to raise rates by 25 bps. On the same day, the BoK will release its latest economic outlook. The 2022 GDP outlook could be downgraded slightly to 2.6% from the current 2.7%, while the CPI inflation outlook should rise sharply to 5.3% from 4.5%. Surveys for consumers and businesses are also likely to worsen as the recent nationwide floods will likely take a toll on sentiment.”
