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South Korea CPI Dips Again in November, Fueling Speculation Over More Bank of Korea Rate Cuts - EconoTimes
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Credit: EconoTimes</p> </div> </div> <div class="articleInfo"> Tuesday, December 3, 2024 12:44 AM UTC </div> <div class="articleContent"> <div class="relatedStories"> <h3>Related Stories </h3> <ul class="releatedStoryList"> <li><p class="title"><a rel="nofollow" href="/Tesla-Scores-Big-as-Longtime-Critic-Turns-Bullish-Boosting-Price-Target-from-85-to-380-1695763" linkType="related">Tesla Scores Big as Longtime Critic Turns Bullish, Boosting Price Target from $85 to $380</a></li> <li><p class="title"><a rel="nofollow" href="/Cybertruck-Lease-Prices-Slashed-10-as-Tesla-Grapples-with-Demand-Drop-and-Sales-Goals-1695762" linkType="related">Cybertruck Lease Prices Slashed 10% as Tesla Grapples with Demand Drop and Sales Goals</a></li> <li><p class="title"><a rel="nofollow" href="/Apples-Foldable-iPhone-May-Turn-Around-Plummeting-Foldable-Sales-by-2026-1695761" linkType="related">Apple's Foldable iPhone May Turn Around Plummeting Foldable Sales by 2026</a></li> <li><p class="title"><a rel="nofollow" href="/Nvidia-Drives-700-Million-Investment-in-Nebius-to-Build-AI-Superpower-in-the-US-1695734" linkType="related">Nvidia Drives $700 Million Investment in Nebius to Build AI Superpower in the US</a></li> <li><p class="title"><a rel="nofollow" href="/Singapore-Hits-JPMorgan-with-18-Million-Fine-Over-Relationship-Manager-Misconduct-in-Bond-Deals-1695733" linkType="related">Singapore Hits JPMorgan with $1.8 Million Fine Over Relationship Manager Misconduct in Bond Deals</a></li> </ul> </div> <article class="viewArticle"> <p>South Korea's consumer inflation slowed to 1.5% in November, missing expectations and reinforcing prospects of more rate cuts by the Bank of Korea. The reading, just below the central bank's target, follows two consecutive cuts as policymakers aim to support slowing economic growth.</p> <p><strong>South Korea Inflation Slows, Boosting Rate Cut Prospects</strong></p> <p>Inflation as measured by the consumer price index in South Korea declined more than anticipated in November, providing the Bank of Korea with further leeway to reduce interest rates even further after having already completed two consecutive rate reductions, <a href="http://www.investing.com/news/economic-indicators/south-korea-cpi-eases-further-in-nov--keeping-bok-cut-bets-in-play-3750179" rel="nofollow">Investing.com</a> reports.</p> <p>According to figures released by the government on Tuesday, the Consumer Price Index (CPI) increased by 1.5% year-on-year in November. Even though the result was lower than the 1.7% that was anticipated, it was slightly higher than the 1.3% that was recorded in the previous month. The Consumer Price Index figure for October was the lowest since the beginning of 2021.</p> <p><strong>Bank of Korea Maintains Focus on Economic Growth</strong></p> <p>Compared to the previous month's reading of 0.1%, the Consumer Price Index (CPI) dropped by 0.3%.</p> <p>After the Bank of Korea (BOK) unexpectedly lowered interest rates even more and warned of a slowdown in economic growth in the next year, the reading was released just one week later.</p> <p><strong>Analysts Expect Further Rate Cuts by February</strong></p> <p>Despite the fact that the annual CPI number remained significantly lower than the BOK's aim of 2%, the likelihood of additional easing by the central bank became more likely as it worked to strengthen economic development.</p> <p>According to a poll conducted by Reuters, the majority of analysts anticipate that the Bank of Korea will reduce interest rates even lower in February.</p> </article> <div class="commentPlugIn" style="border-top: 1px solid #a1a1a1;"> <script src="https://cdn.fastcomments.com/js/embed-v2.min.js"></script> <div id="fastcomments-widget"></div> <script> FastCommentsUI(document.getElementById('fastcomments-widget'), { tenantId: '-A9VyCivUE8w' }); </script> <!--spot.im--> </div> <div class="editorPick"> <h2 class="editorPickTitle">Editor's Picks</h2> <div class="editorPickWrap table"> <div class="row tableRow"> <div class="pickItem articleWrap tableCell"> <a rel="nofollow" href="/Breathing-through-your-nose-when-you-exercise-may-make-your-runs-easier-1663356"> <img src="https://f1.econotimes.com/2023/09/qy7ztt1jte_th_192x136.jpg"> <p class="title ">Breathing through your nose when you exercise may make your runs easier</p> </a> </div> <div class="pickItem articleWrap tableCell"> <a rel="nofollow" href="/Entrepreneurs-are-facing-a-mental-health-crisis--heres-how-to-help-them-1663300"> <img src="https://f1.econotimes.com/2023/09/39rw0l9keh_th_192x136.jpg"> <p class="title ">Entrepreneurs are facing a mental health crisis — here's how to help them</p> </a> </div> <div class="pickItem articleWrap tableCell"> <a rel="nofollow" href="/Are-fish-oil-supplements-as-healthy-as-we-think-And-is-eating-fish-better-1663227"> <img src="https://f1.econotimes.com/2023/09/awmopd5nza_th_192x136.jpg"> <p class="title ">Are fish oil supplements as healthy as we think? 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