Today’s Q3 GDP data from Korea confirm that the economy grew at a sub-trend pace in the third quarter. Growth is unlikely to pick up sharply over the next few quarters amid weak global conditions, while Korea’s inflation should fall back into its target range by early next year. The upshot is that, contrary to the market and most analysts, we expect Korea’s policy rate to be cut next year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.