BoK seen “on hold” later in February – UOB

Lee Sue Ann, Economist at UOB Group, expects the Bank of Korea (BoK), to keep the monetary conditions unaltered at this month’s meeting (February 27^th).

Key Quotes

“The BoK left its policy rate unchanged at a record-low of 1.25% in January. The rate decision was again not unanimous with 2 out of 7 members supporting a rate cut. Barring and unexpected downturn in growth this year, we maintain our view for the BoK to be on hold through 2020. Expected changes to the make-up of the monetary policy board in April as tenures of four members would be expiring may have some bearing on the rates decision going forth”.