• Latest
  • Trending
Bank of Korea

Bank of Korea Preview: Forecast from five major banks

November 25, 2020
Food Shortage Olubadan

Food Shortage: Olubadan Calls On FG, Govs To Adopt Irrigation Farming

January 2, 2021
E Commerce Indonesia

E-commerce platforms tap into Indonesia’s thriving sharia economy

December 29, 2020
Nigeria Economy Money

Nigeria will need to borrow more and that threatens fiscal flexibility

December 28, 2020
Binance Bitcoin

Binance launches bilateral Bitcoin European options

December 28, 2020
LiteForex Logo

Merry Christmas! 25/12/2020

December 25, 2020
Woman in Africa

Africa CDC: New virus variant appears to emerge in Nigeria

December 24, 2020
Bitcoin Africa Crypto

Bitcoin Events’ Blockchain Africa Conference Returns to Johannesburg in March

December 23, 2020
  • About
  • Privacy & Policy
  • Contact
No Result
View All Result
Brokers Index
Friday, February 26, 2021
Brokers Index
No Result
View All Result
Home Market Watch Forex

Bank of Korea Preview: Forecast from five major banks

November 25, 2020
in Forex, Market Watch
Reading Time: 2min read
0
Bank of Korea

The Bank of Korea (BoK) meets on Thursday, November 26 at 01:00 GMT. The central bank is likely to keep its 7-day repo rate unchanged at 0.5% and as we get closer to the release time, here are the expectations forecast by the economists and researchers of five major banks. Ahead of the meeting, the USD/KRW pair is now consolidating at the key 1109/05 support.

TDS

“Consumer and business confidence strengthened while IP has bounced back. Inflation pressures remain benign, offering space for BoK while there are growing concerns about the jobs market. Another concern is the strength of the KRW, but we do not expect these factors to result in further easing. Instead, we expect BoK to focus on its lending programs and liquidity measures.”

Standard Chartered

“We believe the BoK will maintain the base rate. The market is likely watching whether the BoK will cut or signal another rate cut as a pre-emptive move against the second wave of COVID infections. While we still view a cut as unlikely, we are more open to the possibility than ahead of the 14 October meeting, where the MPC stayed on hold. The economic environment is different now versus October when uncertainty was not as high. Korea posted stronger Q3 GDP growth than the consensus estimate and the BoK’s own forecast on higher net exports on a rebound in China, the US and the euro area. However, external conditions are deteriorating again due to lockdowns in major European countries and US cities. Conditions are worsening broadly as the number of new COVID cases continues to increase rapidly. As Korea’s rebound was driven by external demand, we are sceptical of a sustained rebound in Q4.”

ADVERTISEMENT

ANZ

“We expect the BoK to keep its policy rate unchanged at 0.50%. An accommodative stance will be maintained until a sustainable recovery can be confirmed, in our view. Any further monetary accommodation, if needed, will come in the form of government bond purchases rather than conventional rate cuts.”

ING

“The BoK looks poised to leave the policy on hold.”

UOB

“Given the large fiscal response, including the 4th supplementary budget that was passed in late-September and a record budget for 2021, we maintain our expectation for the BoK to remain on hold ahead. This also takes into consideration that the economy has continued to improve, the ‘effective lower bound’ for interest rate as well as concerns over the rising household debt.”

Source: FXStreet

Tags: BankForecastKoreaMajorPreview
Share1Tweet1ShareSendShare
ADVERTISEMENT

Insights

Bitcoin Africa Crypto

Bitcoin Events’ Blockchain Africa Conference Returns to Johannesburg in March

December 23, 2020
India Economy

The Indian economy is bouncing back | Opinion

December 8, 2020
Professional Trader

16 Technical Analysis Secrets for Boosting Your Trading Skills

November 29, 2020
Trader Lifestyle Tips

A Day in the Life of a Professional Forex Trader

November 27, 2020
Trading Account Protection

5 Tips to Protect Your Brokerage Login Credentials from Hackers

November 15, 2020
Brokers Index

Copyright © 2020 brokersindex.com

Navigate Site

  • About
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Brokers News
  • Market Watch
    • Commodities
    • Cryptocurrency
    • Economy
    • Forex
    • Politics
    • Science
    • Stock Markets
    • Technology
    • World
  • Insights
    • Investing Adviser
    • Lifestyle
    • Trading Tips
  • Focus
    • Case Study
    • Editors Picks
    • Famous Failures
    • Success Stories

Copyright © 2020 brokersindex.com

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.