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[Alpha Biz=(Chicago) Reporter Paul Lee] The Monetary Policy Committee of the Bank of Korea opens on the 19th.
The market is widely expected to freeze the benchmark interest rate at the current level of 3.5% and wait and see the U.S. Federal Open Market Committee (FOMC), which will be held two weeks later.
Concerns have risen over the sluggish economy and financial instability, such as household debt vulnerable borrowers and real estate PFs, amid lingering price pressure over uncertainties in international oil prices caused by Israeli-Palestinian disputes.
According to the financial market on the 19th, a number of market experts predicted that the Monetary Policy Committee would freeze the key interest rate at the current level of 3.5% per year.
The Korea Financial Investment Association survey also has a high opinion of freezing interest rates. According to a survey of 100 bond holders and management-related workers from the 5th to the 11th, 90% of the respondents said they would freeze their key interest rates at the Monetary Policy Committee this month.
If the Bank of Korea decides to set the interest rate at 3.5%, it will freeze it six times in a row since February. As a result, the rate hike cycle, which lasted from August 2021 to January this year, is effectively over.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
