UOB Economists, Lee Sue Ann Says BoK May Lift Policy Rates By 3.0% Towards The End of The Year

Lee Sue Ann

Lee Sue Ann, an economist at the UOB group, has predicted that the Bank of Korea may increase its policy rates by 23bps during its remaining meetings before the end of the year 2022. These meetings have been scheduled to hold in August, October, and November.

In Lee Sue Ann’s words, “On the assumption that inflation will peak in 2H22, we maintain our forecast for the BoK to revert to 25bps hike for the remaining meetings this year in Aug, Oct, and Nov to bring the benchmark base rate to 3.00% by year-end.”

“With an expected moderation in inflation rate next year, the BOK is likely to stay on hold thereafter, or even begin to trim interest rate should growth risks mount.”

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