South Korea is likely to be the first Asian economy to start normalising monetary policy

Inflation data out from South Korea earlier (for June) came in at >2% for the third month in a row.

• 2.4% y/y from 2.6% increase in May (May was the highest since April 2012)

Analysts are firming in their view that the Bank of Kora will hike this quarter (Q3)

• the next meeting is July 15 / 16