Ho Woei Chen, CFA, Economist at UOB Group believes the Bank of Korea (BoK) could reduce its policy rate further at its April event or even before. Key Quotes “An interest rate cut is expected to come next. The rapid spread of COVID-19 on a global level (South Korea being a hotspot as well) will pressure the Bank of Korea (BOK) to deliver at least a 25bps rate cut which may come even before its next scheduled rate decision on 9 April”. “The BOK had resisted consensus call for a 25bps rate cut at its meeting last week (27 Feb) but the aggressive action by the US Fed to slash interest rate by 50bps at an emergency meeting on Tuesday will likely change their calculus even though the preference is clearly not a monetary policy response (particularly in this case of a coronavirus outbreak) as can be seen in the supplementary budgets that were rolled out over the years to target support for various segments of the economy.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Ripple Price Prediction: XRP/USD settles above $0.2400, still vulnerable to losses – Bitcoin confluence FX Street 3 years Ho Woei Chen, CFA, Economist at UOB Group believes the Bank of Korea (BoK) could reduce its policy rate further at its April event or even before. Key Quotes “An interest rate cut is expected to come next. The rapid spread of COVID-19 on a global level (South Korea being a hotspot as well) will pressure the Bank of Korea (BOK) to deliver at least a 25bps rate cut which may come even before its next scheduled rate decision on 9 April”. “The BOK had resisted consensus call for a 25bps rate cut at its meeting last week (27 Feb)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
