All 10 firms expect a 25bp Bank of Korea hike. Barclays: 25bp; governor has
signalled policy objectives are unusually aligned toward tightening. Reuters
survey: 25bp; 28 of 31 economists expect the policy rate to reach 3.00% by
year-end. HSBC: 25bp; won under depreciation pressure, core inflation remains
firm and growth outlook has improved. BofA: 25bp; guidance on the won may matter
more than the move itself as policymakers focus on persistent currency weakness.
Scotiabank: 25bp; governor has strongly hinted at tightening; inflation
persistently above target and won depreciation raise imported inflation risks.
Citigroup: 25bp; expects the governor to signal quarterly 25bp hikes in H2 and
projects additional hikes in July and October this year and January and April
next year. KB Financial: 25bp; sees BOK hiking twice this year, with an October
move more likely than consecutive July/August hikes. NH Investment & Securities:
25bp; BOK may avoid a precise forward-timetable to steer clear of
forward-guidance side effects. Hanwha Investment: 25bp; meeting likely to show
an overall hawkish tilt—watch for growth forecast revisions and guidance on the
pace of future hikes. Crédit Agricole: 25bp; with official forecasts and
guidance not due until August and oil prices easing, a further hike is more
likely in October.