The Bank of Korea (BOK), the South Korean central bank, Governor Lee Ju-yeol was on the wires earlier today, via Reuters, speaking at a press conference in Seoul.
Key Quotes:
“We need to monitor further but it seems the situation doesn’t warrant to review an easing in policy interest rates now.”
Recent falls in bond yields seem “excessive,” when asked if a fall in the three-year bond yield the key interest rate at 1.75 percent signaled high expectations for a rate cut.
Any easing by the BOK would mark a U-turn from its tightening cycle, something most economists still say is likely to happen only next year.
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