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Bank of Korea likely to continue with pro-growth stance

The Bank of Korea is likely to continue with its pro-growth stance given mounting risks of disinflation/deflation, supportive of local financial markets, noted Scotiabank in a research report. South Korean consumer price inflation decelerated to a 12-month low of 0.8 percent year-on-year in January and is expected to fall into deflationary territory on the base effect in the coming months.

“We also expect South Korea to benefit from China’s future economic rebound”, said Scotiabank.

Chinese outstanding total social financing and M2 money supply rose at a more rapid rate in January 2019, indicating an economic rebound will likely gain momentum in late second quarter of three quarter this year especially if China’s medium-and long-term loans keep rising steadily. Moreover, rebounding geopolitical situation on the Peninsula might strengthen the Korean won as well.

“We maintain our short USD/KRW position targeting 1,100”, added Scotiabank.

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May 23 15:00 UTC Released

USKC Fed Composite Index

Actual

4 Bln USD

Forecast

Previous

5 Bln USD

May 23 15:00 UTC Released

USKC Fed Manufacturing

Actual

2 Mln

Forecast

Previous

12 Mln

January 31 00:00 UTC 687846687846m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 687846687846m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 699666699666m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 687846687846m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 699666699666m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 687846687846m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 687846687846m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 687846687846m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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