Financial News: South Korea Rate Decision On Tap For Thursday

South Korea Rate Decision On Tap For Thursday

05/24/2023 - 18:00:00 (RTTNews)

(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is widely expected to keep its benchmark lending rate unchanged at 3.50 percent.

Singapore will release Q1 numbers for gross domestic product, with forecasts suggesting a decline of 0.7 percent on quarter and a gain of 0.1 percent on year. That follows the 2.7 percent quarterly contraction and the 0.1 percent yearly gain in the previous three months.

The central bank in Indonesia will conclude its monetary policy meeting and announce its decision on interest rates. The bank is expected to keep its benchmark lending rate (5.75 percent), lending facility rate (6.50 percent) and deposit facility rate (5.00 percent) all unchanged.

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