BoK: Another rate cut is not ruled out – UOB

Economist at UOB Group Lee Sue Ann keeps another interest rate cut on the table for the Bank of Korea (BoK) at its next meeting.

Key Quotes

“After delivering an emergency 50 bps cut in March and announcing QE measures to buy “unlimited” amount of bonds at the repo rate of no higher than 0.85% for three months between April and June; they BoK maintained its policy rate at the record low of 0.75% in April. Whilst the pressure to cut interest rate has eased owing to the frontloaded cut and QE measure, we're not ruling out another 25 bps cut at the coming meeting.”