Bank of Korea to maintain wait and see stance

The Bank of Korea (BoK) left its policy rate unchanged at a record low of 1.50% today against a backdrop of heightened financial market volatility. While we can’t rule out a rate cut in the coming months, especially after the BoK took a slightly more dovish tone today, we think it would take very weak Q1 GDP data or a significant strengthening of the won to trigger a move. Neither of these look likely.  

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