{"id":59554,"date":"2026-08-15T10:26:10","date_gmt":"2026-08-15T10:26:10","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/bank-of-korea-to-hold-rates-first-cut-expected-in-q4\/"},"modified":"2026-08-15T10:26:10","modified_gmt":"2026-08-15T10:26:10","slug":"bank-of-korea-to-hold-rates-first-cut-expected-in-q4","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/bank-of-korea-to-hold-rates-first-cut-expected-in-q4\/","title":{"rendered":"Bank of Korea to hold rates, first cut expected in Q4"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\"><strong>Key points:<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Bank of Korea will hold the base rate at 3.50% on May 23.<\/li>\n\n\n\n<li>A half-point rate cut is expected in Q4 2024 after potential policy easing from global peers.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.50% on May 23, marking the 11th consecutive meeting with no change. The BOK is expected to maintain this rate through the next quarter, with a half-point cut anticipated in Q4 2024, following expected policy easing from other central banks globally.<\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>South Korea&#8217;s fast growth reduces need for rate cut<\/strong><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">South Korea&#8217;s economy grew at its fastest pace in over two years last quarter, driven by robust exports. This growth suggests there is <a href=\"https:\/\/x.com\/theedgemalaysia\/status\/1767476566676914669\" target=\"_blank\" rel=\"noopener\" title=\"\">no immediate need for a rate cut.<\/a> Elevated inflation and a weak currency support the view of maintaining higher rates for longer.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Bank of Korea member sees no rush to cut rate, minutes show<a href=\"https:\/\/t.co\/FzwhzYjJMY\">https:\/\/t.co\/FzwhzYjJMY<\/a><\/p>&mdash; The Edge Malaysia (@theedgemalaysia) <a href=\"https:\/\/x.com\/theedgemalaysia\/status\/1767476566676914669?ref_src=twsrc%5Etfw\">March 12, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The South Korean won has already depreciated nearly 5% this year, and any further decline would likely increase import costs and heighten inflationary pressures.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/05\/USDKRW-VTMarkets-BankofKorea-1024x463.jpeg\" alt=\"Chart displaying USD\/KRW exchange rate at 1360.33 with a trend of 0.20%, reflecting market reactions to the Bank of Korea's decision to hold interest rates, with the first cut expected in Q4. The chart features moving averages (MA) and MACD indicators, highlighting the currency pair's performance. Image hosted by VT Markets, a forex CFDs brokerage.\" class=\"wp-image-13394\" style=\"width:1450px;height:auto\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>Picture: Upside prevails as long as 1352.80 is support. <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" target=\"_blank\" rel=\"noopener\" title=\"\">Download the VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Economists widely expect the BOK to leave the base rate at 3.50% on May 23. Median forecasts indicate interest rates will remain unchanged through the third quarter before a 50 basis-point cut by the end of 2024. This contrasts with earlier predictions that anticipated 25 basis-point cuts in both Q3 and Q4.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Considering the uncertainty of the timing of the <a href=\"https:\/\/www.vtmarkets.com\/analysis\/market-implications-from-the-us-dollar-decline\/\">Federal Reserve<\/a>&#8216;s interest rate cut and the higher dollar <a href=\"https:\/\/www.vtmarkets.com\/tools\/education\/learn-forex\/exchange-rate-in-fx\/\">exchange<\/a> rate level, the monetary policy committee will likely maintain its cautious stance in lowering interest rates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>BOK expected to lag behind ECB and Fed<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The BOK, which initiated its policy tightening cycle in August 2021, is expected to lag behind its global peers regarding the <a href=\"https:\/\/x.com\/markets\/status\/1786227052892373436\" target=\"_blank\" rel=\"noopener\" title=\"\">timing<\/a> of the first cut. The European Central Bank and the Federal Reserve are projected to begin easing in June and September, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The BOK is likely to signal that a rate cut is unlikely in the next three months but still possible by the end of 2024. Growth momentum remains two-tiered with strong net exports, versus a still-soft domestic outlook. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The soft domestic demand growth outlook and relatively muted perceived growth still suggest that the next move will be a cut.<br><br><strong>Also read: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/south-korean-shares-rise-on-fed-rate-cut-hopes-and-positive-u-s-stocks\/\">South Korean shares rise on Fed rate cut hopes and positive U.S. stocks<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Bank of Korea&#8217;s decision to hold rates steady reflects a cautious approach amidst global economic uncertainties. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The expected rate cut in Q4 2024 will depend on domestic demand trends and inflationary pressures, influenced by the performance of the won and global policy movements. Traders and investors should monitor these factors closely as they will shape the BOK&#8217;s future monetary policy decisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click <\/strong><a href=\"https:\/\/www.vtmarkets.com\/get-trading\/forex-trading-account\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong> to create your live VT Markets account.<\/strong><\/p>\n\r\n\n\n\n<p class=\"wp-block-paragraph\"><b>Start trading now \u2014 click <a href=\"https:\/\/www.vtmarkets.com\/en-ca\/trade-now\/\">here<\/a> to create your real VT Markets account.<\/b>\n\n<\/p>\n\n<!-- vt-src:13393 -->","protected":false},"excerpt":{"rendered":"<p>Key points: The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.50% on May 23, marking the 11th consecutive meeting with no change. The BOK is expected to maintain this rate through the next quarter, with a half-point cut anticipated in Q4 2024, following expected policy easing from other central banks <a href=\"https:\/\/www.vtmarkets.com\/analysis\/bank-of-korea-to-hold-rates-first-cut-expected-in-q4\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-59554","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Key points: The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.50% on May 23, marking the 11th consecutive meeting with no change. 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The BOK is expected to maintain this rate through the next quarter, with a half-point cut anticipated in Q4 2024, following expected policy easing from other central banks Continue Reading","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website"},"breadcrumb":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/bank-of-korea-to-hold-rates-first-cut-expected-in-q4\/#breadcrumblist"},"author":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"creator":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"datePublished":"2026-08-15T10:26:10+00:00","dateModified":"2026-08-15T10:26:10+00:00"},{"@type":"WebSite","@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website","url":"https:\/\/www.vtmarkets.com\/en-ca\/","name":"VT Markets","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#organization"}}]},"og:locale":"en_US","og:site_name":"VT Markets -","og:type":"article","og:title":"Bank of Korea to hold rates, first cut expected in Q4 - VT Markets","og:description":"Key points: The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.50% on May 23, marking the 11th consecutive meeting with no change. The BOK is expected to maintain this rate through the next quarter, with a half-point cut anticipated in Q4 2024, following expected policy easing from other central banks Continue Reading","og:url":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/bank-of-korea-to-hold-rates-first-cut-expected-in-q4\/","article:published_time":"2026-08-15T10:26:10+00:00","article:modified_time":"2026-08-15T10:26:10+00:00","article:publisher":"https:\/\/www.facebook.com\/vtmarketsglobal\/","twitter:card":"summary_large_image","twitter:site":"@vtmarketsglobal","twitter:title":"Bank of Korea to hold rates, first cut expected in Q4 - VT Markets","twitter:description":"Key points: The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.50% on May 23, marking the 11th consecutive meeting with no change. The BOK is expected to maintain this rate through the next quarter, with a half-point cut anticipated in Q4 2024, following expected policy easing from other central banks Continue Reading","twitter:creator":"@vtmarketsglobal"},"aioseo_meta_data":{"post_id":"59554","title":null,"description":null,"keywords":null,"keyphrases":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_custom_url":null,"og_image_custom_fields":null,"og_custom_image_width":null,"og_custom_image_height":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema_type":null,"schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"none","tabs":null,"priority":null,"frequency":null,"local_seo":null,"created":"2026-08-15 10:26:10","updated":"2026-08-15 10:26:10"},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\" title=\"Home\">Home<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/\" title=\"Today&apos;s Analysis\">Today's Analysis<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\tBank of Korea to hold rates, first cut expected in Q4\n<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.vtmarkets.com\/en-ca"},{"label":"Today's Analysis","link":"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/"},{"label":"Bank of Korea to hold rates, first cut expected in Q4","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/bank-of-korea-to-hold-rates-first-cut-expected-in-q4\/"}],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=59554"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59554\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=59554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=59554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=59554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}