Bank of Korea (BoK) cut its policy rate by 25bp to a new record low at its meeting last month. Admittedly, the recent string of weak data has prompted speculation that it will further loosen monetary policy, but BoK is likely to keep rates on hold on Thursday.“We think the BoK will want to wait for additional economic data before making its next move, especially since the economy should pick up in the coming quarters as the impact of lower oil prices and earlier rate cuts filters through.” – says Capital Economics
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