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Bank of Korea is expected to hold rates steady in July, cut to come in Q4

Reuters with its polling result on what is expected from the Bank of Korea.

to hold its base rate steady at a 15 year of 3.5% through Q3 2024all 40 economists in the poll expect the BOK to leave the base rate unchanged at the July 11 meetingto cut by 25bps in Q4

Cited as reasoning include:

inflation to an 11-month low of 2.4% in June,
but remaining above the central bank’s 2% targetKorean won weakening by more than 6% against the US
dollar so far in 2024, limiting dovish options for the Bank

This article was written by Eamonn Sheridan at www.forexlive.com.

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