Mitsubishi UFJ Financial Group now expects the Bank of Korea to deliver consecutive hikes and to raise policy rates by 25bp in August. MUFG cites persistent core inflation, resilient semiconductor exports and memory prices, and a firm property market as reasons for further tightening. A hawkish BoK stance is seen as supportive for the won. MUFG revised its outlook within a month — after the July BoK meeting it had expected rates to be unchanged in August with a hike in Q4, but has moved the anti

Mitsubishi UFJ Financial Group now expects the Bank of Korea to deliver consecutive hikes and to raise policy rates by 25bp in August. MUFG cites persistent core inflation, resilient semiconductor exports and memory prices, and a firm property market as reasons for further tightening. A hawkish BoK stance is seen as supportive for the won. MUFG revised its outlook within a month — after the July BoK meeting it had expected rates to be unchanged in August with a hike in Q4, but has moved the anticipated hike forward to August.