The research team at BBH sees the BoK keeping its benchmark rate unchanged at tomorrow’s meeting. Key Quotes “Bank of Korea meets Tuesday and is expected to keep rates steady at 1.5%”. “CPI rose only 0.8% y/y in January, well below the 2.5-3.5% target range”. “We think BOK has set the table for more easing, when it cut its growth and inflation forecasts at its January meeting”. “This meeting maybe too soon for a rate cut, but we think it becomes more likely in March and April”. “With the important JPY/KRW cross moving close to 11, there is not as much urgency for the BOK to cut rates now”. For more information, read our latest forex news.