The Bank of Korea raised its inflation forecast.
Kathleen, I'm sure you're completely unsurprised by the rate hike that the Bank of Korea just did. The larger.
What's the path forward for me? You're correct. Today's decision was expected.
Expectations are that this decision will come with a vote against the hike. We'll see how that goes. During the press conference.
Governor Lee tells us how the decision was made. It's going to be one dissenter for us.
The path from here was not very aggressive. We think the next rate hike will be in the second half of next year.
The first quarter was instead of 00:40year. There is a high degree of political and policy uncertainty with the presidential election.
There is a lunar new year holiday in January and February which causes the economic data to be distorted. We think so.
Members will take a break until the second quarter. The impact of two hikes this year is being monitored.
The impact of rising Covid cases will be monitored. There has been a big increase in cases in Korea.
A new day begins. How much of a factor is it for the B?
I think it's an important factor. It's going to be a factor that makes B consumers sentiment derailed.
We've been expecting a consumption recovery from the fourth quarter as the expert growth is coming down.
The one that will be driving the growth is 01:36consumption. If that gets hit by the government.
The people feel that they need to stay in instead of spending and that datememe datememe is a harsher method of doing that.
We think that could be a drag on the labor market. The services activities could be done differently.
Impacting the thought process of some members of the New Democratic Party makes them stay a little more cautious.
The TV chart shows that the household lending growth is starting to peak. How well has it been?
The August rate hike worked. The August rate hike had a spillover impact.
We've seen the lending rates go up since the August hike, and we've seen that monthly.
This quarterly household debt growth is peaking as well. Also.
We've seen the weekly housing prices and John's B deposit. Rental prices are going down. We see these impacts.
Trends missed transmissions from the August rate hike. We expect the rate to be hiked in November.
The effect on these renting rates and household debt is huge. Yeah. Tell us a bit about that house.
The gains in the property market have been hard to tame.
You're correct. It has been difficult for Korea. The bouquet was implemented by the government.
They have started to make a rate hike. We expect to see some stabilization in the overall.
There are housing prices nationwide. We still see those prime apartment prices when we look at specific areas.
There was a pickup in both rental and sales prices. For to be okay. The consideration would be for the macro aspect.
Average prices are moving. As long as the macro trend is stabilizing, we think thatBTK would consider that.
The rate hike had an effect. Making a positive effect on the housing market.
Growth and inflation projections will be updated at this meeting. What are you expecting?
It has been widely anticipated that the inflation forecast will be revised upward.
The current assumption is that the oil price will be around sixty five dollars per barrel next year.
We think that with the current level, it would be around eighty two eighty five dollars per barrel.
They should revise the number closer to 2 percent. That is close to our predictions of one point eight.
We think they will keep the numbers unchanged for this year and next year at 4.0 and 3.0.
If the governor signals any downside risk that's been increased since the last forecast revision. I think so.
The market expects a delay in the next rate hike. Kathleen and I.
The political uncertainty given the presidential elections is what started this conversation. See or what?
The monetary board uncertainty is ending around that time.
It's the first time that we have the overlap of the period of the UK gov leaving and the new.
President coming in. The current government has to appoint a new governor by the time.
The new president will be confirmed as well. We expect our baseline to be that.
The transition between the old government and the new government will be smooth.
A new governor. There is a chance that there will be an absence in the governorship in March and April.
The transition period has a little bit of conflict.
