The market expects the Bank of Korea to raise interest rates by 25 basis points

On November 22, the Bank of Korea was expected to raise its benchmark interest rate by 25 basis points to 3.25% at its policy meeting on Thursday, returning to its consistent tightening pace after a sharp 50 basis point hike in October.

Of the 20 analysts surveyed by The Wall Street Journal, 18 expected a 25 basis point rate hike in November and two expected a 50 basis point hike in a row. Most analysts expect the Bank of Korea to slow the pace of rate hikes and pay more attention to signs of a possible recession and inflation that may have peaked. They expect the Bank of Korea to end its tightening in 2023.