Eighteen of 23 analysts surveyed by Bloomberg expect the BoK to cut rates by 25 basis points (bps) today, while one said it could be reduced by twice as much. The rest forecast no change at 0.75% after an emergency cut in March and unprecedented steps to extend liquidity to firms and financial markets.
SEOUL: The Bank of Korea (BoK) is expected to cut its key interest rate to a fresh record low and announce more bond purchases this week as the pandemic takes a toll on exports essential to the country’s economy.
Eighteen of 23 analysts surveyed by Bloomberg expect the BoK to cut rates by 25 basis points (bps) today, while one said it could be reduced by twice as much. The rest forecast no change at 0.75% after an emergency cut in March and unprecedented steps to extend liquidity to firms and financial markets.
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