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Analysts at ANZ note that the Bank of Korea (BoK) has kept its policy rate unchanged at 1.75% today, with unanimous hold.

Key Quotes

“The recent run of weak data means the BoK will want to keep monetary policy accommodative, but BoK Governor Lee Ju-yeol also reiterated in his press conference that it is too early consider a rate cut.”

“The upshot is that the BoK is likely to stand pat for an extended period and instead leave fiscal policy to take the lead in bolstering economic activity.”