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Bank of Korea likely to keep official bank rate on hold in May

The South Korean central bank, Bank of Korea, is likely to keep its official bank rate on hold next week. According to a Scotiabank research report, the central bank will maintain the key rate at 1.25 percent during its meeting. According to a median forecast in a recent Bloomberg poll, the interest rate is unlikely to change until the second half of next year, when gradual rate hikes are anticipated.

During its last meeting, the Bank of Korea slightly revised up its growth and inflation projections for this year to 2.6 percent and 1.9 percent, respectively. Given the election of President Moon Jae-in, the focus is expected to shift to fiscal policy in the future. Moon’s election campaign vowed a KRW 10 trillion stimulus program of comparable magnitude to previous year’s stimulus plan and focused on job creation, noted Scotiabank.

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May 26 14:30 UTC Released

USECRI Weekly Annualized*

Actual

5.1 %

Forecast

Previous

5.0 %

May 26 14:30 UTC Released

USECRI Weekly Index*

Actual

144.1 %

Forecast

Previous

144.5 %

May 28 15:00 UTC 26432643m

SAM3 Money Supply YY*

Actual

Forecast

Previous

0.0 %

May 28 15:00 UTC 26432643m

SAPvt Sector Loans YY*

Actual

Forecast

Previous

-0.1 %

May 29 08:00 UTC 36633663m

EZLoans to Households*

Actual

Forecast

Previous

2.4 %

May 29 08:00 UTC 36633663m

EZLoans to Non-Fin

Actual

Forecast

Previous

2.3 %

May 29 08:00 UTC 36633663m

EZMoney-M3 Annual Grwth*

Actual

Forecast

5.2 %

Previous

5.3 %

May 29 23:30 UTC 45934593m

JPAll Household Spending MM*

Actual

Forecast

1.1 %

Previous

-2 %

May 29 23:30 UTC 45934593m

JPAll Household Spding YY*

Actual

Forecast

-0.7 %

Previous

-1.3 %

May 29 23:30 UTC 45934593m

JPJobs/Applicants Ratio

Actual

Forecast

1.46 %

Previous

1.45 %

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