BOK seen to hold base rate at 3.5% on Thursday rate cut call pushed to 2024

BENGALURU - The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.5 percent on Thursday and for the rest of the year as inflation continued to ease, a Reuters poll of economists predicted, but rate cut forecasts were pushed back by a quarter to early 2024. While inflation in major economies remains elevated, prompting the U.S. Federal Reserve and European Central Bank to pursue policy tightening, it fell to a 21-month low in South Korea last month, bringing it closer to the central bank's 2-percent target. That is good news for the BOK, one of the first to start raising rates in August 2021, which had paused tightening in February as its total 300 basis-point hik...

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