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BoK hawkish, vaccine hopes, Singapore trade softens

Policymakers in Korea have started to sound increasingly hawkish about the outlook for monetary policy, supporting our view that the Bank of Korea will begin raising interest rates before the end of the year. Meanwhile, we have cut our Singapore growth forecast for this year from 7.0% to 6.0% to reflect the recent pullback in exports and the government’s decision to postpone the planned reopening of the economy.

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