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The Bank of Korea (BoK) is expected to refrain from acting on rates at its monetary policy meeting on Thursday, in opinion of Lee Sue Ann, Economist at UOB Group.

Key Quotes

“With the benchmark interest rate at new record low of 0.75%, we expect at most another 25 bps cut in 2Q20 as BoK weighs other options to support the economy. The central bank followed through with its earlier comment on bond purchases by committing to “unlimited” supply of liquidity for three months starting April. to help stabilize financial markets. Auctions will be held every Tuesday between April and June with the first option on the 2 April.”