Bank of Korea Expected to Hold Rate at 3% After Two Increases

The Bank of Korea is expected to hold its benchmark rate at 3% on Oct. 22 after two increases, leaving inflation and household debt central to its November decision. South Korea’s central bank raised the base rate by 0.25 percentage point in July and again in August, taking it from 2.5% to 3%. All 24 economists in a premeeting poll expect the bank to leave it there Thursday. Separate surveys point to a later move. Eighteen of 20 respondents in one survey expect a November increase, as do eight of 11 in another.

Source: TokenPost