Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

<p>In August the Bank of Korea left interest rates unchanged for the tenth month at 1.5%. No one was surprised. The central bank’s job is done. We expect Korean policy rates to stay on hold for the rest of this year. The BoK like the government is worried about the economy’s loss of growth momentum. Both have trimmed their growth forecasts for this year to 2.9% from 3%. Further downgrades cannot be ruled out</p>

In August the Bank of Korea left interest rates unchanged for the tenth month at 1.5%. No one was surprised. The central bank’s job is done. We expect Korean policy rates to stay on hold for the rest of this year. The BoK like the government is worried about the economy’s loss of growth momentum. Both have trimmed their growth forecasts for this year to 2.9% from 3%. Further downgrades cannot be ruled out

MSCI AC Asia ex Japan Index (MXASJ INDEX)

Korea - BoK To Stay On Hold For Rest Of 2018