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ANZ analysts note that the Bank of Korea (BoK) held its policy rate at 1.50% today, as widely expected.

Key Quotes

“Notably, the decision was not unanimous, with two board members calling for a rate cut.”

“The BoK’s policy messaging also continued to signal that the door to further easing remains open.”

“With growth risks elevated and price pressures subdued, a further 25bp rate cut looks to be on the cards in Q4, possibly as soon as the central bank’s next meeting on 16 October.”