The Bank of Korea (BOK) has maintained its key interest rate at 3.50%, in line with expectations. The decision comes after an election setback for the ruling party. BOK will continue to monitor household debt growth, inflation, and economic growth, while maintaining a restrictive policy stance. BOK Governor Rhee warns of increased uncertainty in the inflation outlook and potential challenges for rate cuts if inflation remains high. The central bank is closely watching the impact of diverging monetary policies abroad and the weakening of the Korean Won against the US Dollar.
At the start of the year, the market was pricing in 6-7 Fed rate cuts w/ 25 bps cuts in March/May/June/July. Today the market is pricing in just 2 cuts w/ the first cut not occurring until September. Video: https://t.co/EFZy9EJkGi https://t.co/NoA0IgOtxY
🇬🇧 Inflation data lowers hopes of interest rate cuts https://t.co/yXw4fIURUR
A slew of Fed officials— Kansas City Fed president Schmid, Atlanta, Boston and San Francisco Fed presidents — all sound alike: The Fed can be patient in cutting interest rates. https://t.co/veaH3vDMrp via @economics
Two Fed officials urge patience before any interest rate cuts https://t.co/lgVmVyOm7E by @Jenniferisms
Boston Fed president Susan Collins says the central bank won't rush its plans to lower interest rates. https://t.co/no2V6KoJDm
FED'S DALY: THE ECONOMY AND POLICY RATE IS IN A GOOD PLACE.
FED'S DALY: I NEED TO BE FULLY CONFIDENT INFLATION IS COMING DOWN TO 2% BEFORE CONSIDERING A RATE CUT.
FED'S DALY: THE LABOR MARKET IS STRONG, INFLATION IS NOT FALLING AS RAPIDLY AS LAST YEAR.
FED'S DALY: WITH THIS WEEK'S CPI REPORT, IT'S A GOOD TIME TO REMIND PEOPLE FED IS NOT DATA-POINT DEPENDENT.
FED BOSTIC: INFLATION WILL KEEP EASING BUT SLOWER THAN WOULD LIKE
FED'S SCHMID: THERE IS REASON TO THINK RATES WILL STAY HIGHER FOR LONGER.
FED'S SCHMID: REASON TO THINK RATES WILL STAY HIGHER FOR LONGER
FED'S SCHMID: WE'RE AT A BUMPY STAGE NOW WITH INFLATION
FED'S SCHMID: IMPRESSED BY HOW WELL THE ECONOMY IS HOLDING UP
Kansas City Fed President Jeffrey Schmid said policymakers should wait for “clear and convincing” evidence that inflation is headed back toward 2% before lowering interest rates. https://t.co/IGjW67TwkL
FED'S SCHMID: A BETTER BALANCE IN THE JOBS MARKET IS NEEDED FOR PRICE STABILITY. THE CURRENT STANCE OF US MONETARY POLICY IS APPROPRIATE. I WOULD LIKE TO SEE A MUCH SMALLER FED BALANCE SHEET. WAGE GROWTH SIGNALS ONGOING LABOR MARKET IMBALANCE. IT IS IMPORTANT FOR THE FED TO…
Fed's Schmid Counsels Patience On Rates, Wants Small Balance Sheet https://t.co/Y4veaooorS
FED’S SCHMID: JOB SECTOR STRONG, ECONOMY GROWING ABOVE TREND
FED’S SCHMID: WAGE GROWTH SIGNALS ONGOING LABOR MARKET IMBALANCE
MARKETS ARE NOW PRICING LESS THAN TWO 25BP RATE CUTS THIS YEAR, ACCORDING TO CITI
FED’S COLLINS: STILL EXPECTING INFLATION PRESSURES TO WANE LATER THIS YEAR
South Korea's central bank flagged the possibility of a rate cut later this year should inflationary pressure ease as expected https://t.co/EEOa1s7m9z https://t.co/mAWVQFJZPr
💡 South Korea: BOK expectedly freezes policy rate at 3.50% for 10th consecutive time - @EmergingMWatch on https://t.co/orvmA6Wqwk Full Story → https://t.co/9tjF2XFjYW
South Korea's central bank holds rates, battling sticky inflation https://t.co/1LqcUvGoOA https://t.co/xvzaBgRCwQ
BOK RHEE: DOMESTIC CONSUMPTION DATA, CRUCIAL FOR MONETARY POLICY, NEEDS FURTHER MONITORING
🔴 BOK RHEE: FURTHER MONITORING NEEDED FOR DOMESTIC CONSUMPTION DATA CRUCIAL FOR MONETARY POLICY
🔴 BOK RHEE SAYS STABILIZING PRICES OF AGRICULTURAL PRODUCTS WITH MONETARY POLICIES IS DIFFICULT
🔴 BOK RHEE: EXPORTS GROWTH EXCEEDS EXPECTATIONS
🔴 "REFORM OF FORWARD GUIDANCE AT BOK TO LIKELY OCCUR NEXT YEAR"
🔴 BOK RHEE ANTICIPATES FORWARD GUIDANCE REFORM AT THE BOK IN THE COMING YEAR
🔴 BOK RHEE TO MONITOR IMPACT OF DIVERGING MONETARY POLICIES ABROAD BEFORE MAKING PREDICTIONS FOR SECOND HALF
🔴 BOK RHEE WARNS OF POTENTIAL IMPACT ON USD/KRW IF US DELAYS INTEREST RATE CUTS, SAYS MARKET MUST BE MONITORED
BOK RHEE: A DELAY IN INTEREST RATE CUTS BY THE U.S. MAY IMPACT USD/KRW, WILL NEED TO MONITOR MARKET
🔴 MARKET TO BE MONITORED AS U.S. DELAY IN INTEREST RATE CUTS MAY AFFECT USD/KRW
🔴 US RATE CUT EXPECTATIONS PUSHED BACK
🔴 BOK RHEE SAYS SOUTH KOREA HAS MEANS TO STABILIZE FX MARKET IF NEEDED.
🔴 BOK RHEE EXAMINES WHETHER RECENT DECLINES IN THE WON ARE CONSISTENT WITH ITS ECONOMIC FUNDAMENTALS
🔴 BOK RHEE PUSHES BACK TIMING FOR US RATE CUT
🔴 BOK RHEE SAYS US FED'S PIVOT SIGNAL ENABLED KOREA'S MONETARY POLICIES TO DECOUPLE FROM IT
🔴 BOK RHEE ATTRIBUTES RECENT WEAKNESS IN WON TO THE STRONG US DOLLAR
🔴 KOREA DECOUPLES MONETARY POLICY AFTER FED SIGNALS PIVOT
South Korea central bank keeps rates steady, as expected https://t.co/ip9MHrU4pK https://t.co/MTkqPHXNNn
🔴 BOK RHEE PREDICTS HIGHER THAN EXPECTED OIL PRICES
BOK RHEE: RATE CUTS MIGHT BE DIFFICULT THIS YR SHOULD INFLATION REMAIN STICKY
BOK RHEE: ALL SEVEN MEMBERS SAID HARD TO PREDICT POLICY DECISIONS FOR THE SECOND HALF
BOK RHEE: HAVE MORE ROOM TO FOCUS ON DOMESTIC CONDITIONS IN DECIDING MONETARY POLICY THIS YR THAN LAST
🔴 BOK RHEE SAYS MORE ROOM TO FOCUS ON DOMESTIC CONDITIONS IN DECIDING MONETARY POLICY THIS YEAR THAN LAST
🔴 BOK RHEE: NO SIGNAL FOR RATE CUT
🔴 BOK RHEE PREDICTS CHALLENGES FOR RATE CUTS THIS YEAR IF INFLATION REMAINS HIGH
🔴 BOK RHEE SAYS: HARD TO PREDICT POLICY DECISIONS FOR THE SECOND HALF, ALL SEVEN MEMBERS AGREE
🔴 BOK RHEE WARNS OF INCREASED UNCERTAINTY REGARDING INFLATION OUTLOOK
🔴 BOK RHEE: 1 IN 7 BOARD MEMBERS "OPEN" TO RATE CUT IN NEXT THREE MONTHS
🔴 BOK RHEE SAYS FRIDAY'S RATE DECISION WAS UNANIMOUS.
🔴 BANK OF KOREA TO MONITOR GROWTH OF HOUSEHOLD DEBT
🔴 CENTRAL BANK OF KOREA TO MONITOR RISKS TO ECONOMIC GROWTH
🔴 BOK TO MAINTAIN RESTRICTIVE POLICY STANCE FOR A SUFFICIENT PERIOD OF TIME
BOK: PREMATURE TO BE CONFIDENT THAT INFLATION WILL CONVERGE ON THE TARGET LEVEL
BOK: WILL MAINTAIN RESTRICTIVE POLICY STANCE FOR SUFFICIENTLY LONG PERIOD OF TIME
BOK: TO MONITOR INFLATION SLOWDOWN
BOK: GROWTH FORECAST TO BE CONSISTENT WITH EARLIER FORECAST OR COULD BE HIGHER
BOK: TO MONITOR HOUSEHOLD DEBT GROWTH
BOK: INFLATION TO GRADUALLY MODERATE
BOK: KRW RECENTLY WEAKENED TO DOLLAR DUE TO STRONG U.S. DOLLAR, WEAK NEIGHBORING CURRENCIES
🔴 BOK NOTES KRW WEAKENING AGAINST USD AMID STRONG US DOLLAR AND WEAK NEIGHBORING CURRENCIES.
🔴 BOK MAINTAINS GROWTH FORECAST CONSISTENT WITH EARLIER PROJECTIONS OR POTENTIALLY HIGHER
🔴 BOK TO MAINTAIN RESTRICTIVE POLICY STANCE FOR EXTENDED PERIOD
🔴 BOK: INFLATION CONVERGENCE ON TARGET LEVEL NOT YET CERTAIN
Bank of Korea will leave a key interest rate unchanged at 3.50%
The Bank of Korea kept its benchmark interest rate on hold after an election setback for the ruling party https://t.co/Wc5rcrQeLg
⚠️ SOUTH KOREA CENTRAL BANK KEEPS RATES STEADY, AS EXPECTED Full Story → https://t.co/5WRv4dAfQt
Bank Of Korea Leaves Key Interest Rate Unchanged At 3.50%
🔴 BANK OF KOREA MAINTAINS BASE RATE AT 3.50% IN ACCORDANCE WITH POLL RESULTS
🔴 BANK OF KOREA BASE RATE ACTUAL 3.5% (FORECAST 3.5%, PREVIOUS 3.50%) $MACRO
🇰🇷 South Korea Interest Rate Decision (Apr) $KRW Actual: 3.50% Expected: 3.50% Previous: 3.50%
⚠️ SINGAPORE CENTRAL BANK KEEPS MONETARY POLICY UNCHANGED Full Story → https://t.co/Obn9H0WHxb https://t.co/vkESzVaryD