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The Bank of Korea cut its policy rate by 25 basis points to 3.0% from 3.25%, a move that was lower than expected. The bank also cut its 2024 and 2025 GDP and CPI forecasts, and ING expects the next move in February 2025.
The surprise easing signals weaker domestic growth and demand, while the cut adds pressure on the won and raises the cost of dollar-priced feed imports.
think.ing.comMin Joo KangNov 28, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
