South Korea: BoK expected to hike rates this week – UOB

Economist at UOB Group Lee Sue Ann sees the Bank of Korea (BoK) hiking rates by 25 bps at its meeting later this week.

Key Quotes

“We are keeping our forecast for BOK to continue raising the base rate by 25bps per meeting in Oct and Nov to bring the base rate to 3.00% by end4Q22. Thereafter, we expect the BOK to stay on hold through 2023.”

“However, BOK could do more should the inflation trajectory stay higher than expected.”