Reuters with its polling result on what is expected from the Bank of Korea.
- to hold its base rate steady at a 15 year of 3.5% through Q3 2024
- all 40 economists in the poll expect the BOK to leave the base rate unchanged at the July 11 meeting
- to cut by 25bps in Q4
Cited as reasoning include:
- inflation to an 11-month low of 2.4% in June, but remaining above the central bank's 2% target
- Korean won weakening by more than 6% against the US dollar so far in 2024, limiting dovish options for the Bank
