Bank of Korea 5month 28 day Monetary Policy Board meeting: growth outlook likely to be raised, base rate likely to remain unchanged
The Bank of Korea 5month 28 day Monetary Policy Board meeting will announce revised economic projections and its base rate decision. With the semiconductor boom, the growth outlook may be raised to 2.5 to 2.6%2.50, while the current base rate is widely expected to remain unchanged at an annual rate of
The Bank of Korea 5month 28 day Monetary Policy Board meeting will announce the base rate and revised economic projections. The committee’s schedule has already been announced. The announcement is one of the major economic events scheduled for next week.
The Bank of Korea is reportedly likely to raise its forecast for real gross domestic product (GDP) growth this year from the previous 2.0% to 2.5 to 2.6%. An improvement in semiconductor conditions has been cited as the reason for the upward revision. The revised outlook will be announced on 28.
The current base rate is 2.50% per annum. Economic experts believe the Monetary Policy Board is likely to maintain its hawkish stance and leave the rate unchanged for now. Whether it signals a rate increase later in the year, even if it holds the rate steady, is being watched.
In the United States, 30the year Treasury yield 5.2% and nearly 20hit its highest level in years. This has raised expectations of further interest-rate hikes by the Federal Reserve. Rising yields on long-term U.S. debt have contributed to greater volatility in global financial markets.
Meanwhile, the Bank of Korea is producing an official portrait of former Governor Lee Chang-yong. The production cost is 3,000won, according to reports. A new gallery exclusively for deputy governors is also being created.
Next week (25~29 days), in addition to announcements from the Bank of Korea, overseas interest-rate trends and earnings at major industries were cited as factors that could influence the market. The market is expected to react strongly to the relevant schedules and results from the announcement on 28. The schedules for each announcement have already been made public.
Sources: 연합뉴스 경제
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