Bank of Korea Governor Lee Ju-yeol responded to the FOMC Wednesday
- markets appear to see heightened chance of US rate cut within this year
- Bank of Korea does not mechanically follow Fed's decisions
- US FOMC 'dot plot' was lowered more sharply than we expected
- Phrases in my recent speech reflect really drastic changes in external conditions
- Revised Q1 GDP showed economy was not moving as we had expected
Earlier responses posted:
- Morgan Stanley forecasts the FOMC to cut rates in July by 50bps
- Responses to the Fed continue - FOMC was 'notably dovish'
- UBS on the Federal Reserve - the FOMC went beyond strong dovish expectations
- FOMC response: 'Rate cuts are in the offing ... July' + 3 more probable over 12mths
- USD decline after the FOMC - about that dissent
