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Bank of Korea to make 50bp rate hike in July: Morgan Stanley Updated: 2022-07-06 22:27:07 KST

With Korea posting its highest inflation in 24 years last month at 6 percent, there are growing expectations for faster interest rate hikes by the Bank of Korea. Morgan Stanley is the latest to project a rate hike this month of 50 basis points. Its projection on Wednesday was up from 25 basis points last month. It cited the BOK's hawkish stance in its policy meeting in May and recent remarks about a so-called big step being on the table. By the end of the year, Morgan Stanley still projects South Korea's base rate to rise to 2.7-5 percent, up from 1.75 right now.
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