Shin Attend Jackson, BOK Interest Rate Hike Decision Looms

Bank of Korea Governor Shin Hyun-song is set to attend the Jackson Hole meeting for the first time as governor, amidst market attention focused on U.S. Federal Reserve Chairman Kevin Wash's speech.

The Bank of Korea's Monetary Policy Committee will hold a decision meeting on August 27th to decide whether to adjust the benchmark interest rate, which is currently at 2.75% per year.

Recent growth indicators suggest that further interest rate hikes may be necessary, with real GDP rising 0.6 percent in the second quarter and core inflation increasing to 2.6 percent in July.

Citi maintains its forecast of a 25 basis point hike at the Monetary Policy Committee this month, while Barclays predicts that interest rates will be frozen but leaves room for a potential hike in October.