Bank of Korea: First cut in three years – ANZ

ANZ analysts note that the Bank of Korea (BoK) cut its policy rate by 25bp to 1.50% today, surprising the consensus.

Key Quotes

“In our view, the BoK’s decision to cut sooner rather than later signals that growth concerns are at the forefront and leaves the door open for further easing in the coming months.”

“With downside growth risks on the rise, not least due to souring bilateral ties with Japan, we think another 25bp rate cut is in the pipeline in the coming months.”

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