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Don’t miss our next trade idea. Get on the Bear Traps Report Today, click hereFollowing the Federal Reserve, Bank of England, Bank of Canada – South Korea joins the rate hike party.
The Bank of Korea raised its benchmark interest rate for the first time since 2011, marking a likely turning point for Asian central banks.
Last Hiking Cycle Kicked off in 2010 in S Korea
Thursday’s decision to raise the seven-day repurchase rate to 1.5 percent was forecast by 18 of 24 analysts surveyed by Bloomberg. The rest expected the central bank to leave the rate at a record-low 1.25 percent, where it has been since June 2016. As you can see above, markets widely anticipated this move – interest rates in China and S Korea have been on the rise for 15 months.
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