Bank of Korea Expected to Hold Base Rate; USD Strength Cited as a Reason

34 of 38 economists expect the Bank of Korea to hold its base rate at 3.25%
at the November 28 meeting.

• 4 expect a 25 bps cut

The info comes via a Reuters survey.

The strength of the USD against the won is cited as a reason for the Bank to hold:

• “expected to force the Bank of Korea to pause its
  easing cycle, which only started last month”
• “despite inflation remaining below the 2% target since August
  and risks to an economy that narrowly avoided a recession last
  quarter, economists said the central bank would prefer to wait a
  few more months before restarting its easing cycle”

This article was written by Eamonn Sheridan at www.forexlive.com.