S&P’s Roache: BOK to stand pat all the way through 2022

The Bank of Korea (BOK), South Korea's central bank, is likely to hold its interest rates, currently at 0.50%, "all the way through 2022," Shaun Roache, Chief Economist at S&P Global Ratings, told an online media briefing on Wednesday.

He said that additional policy support will be needed “as jobs recovery, inflation and the overall economic revival after the COVID-19 vaccine distribution are expected to take some time.”

His comments came after the South Korean Q4 GDP beat expectations, arriving at 1.1% QoQ vs. 0.7% expectations on Tuesday.