Korean bond experts eye more rate hikes for October

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Korean bond experts eye more rate hikes for October

A majority of bond experts in Korea expect the country's central bank to raise its policy interest rates next month along with the U.S. Federal Reserve's hawkish signal, a poll showed Tuesday.
According to the survey of bond experts by the Korea Financial Investment Association (Kofia), 61 percent of the respondents expected the Bank of Korea would increase its key rates in October.
The October forecast for rate hikes increased by 28 percentage points from a month earlier, Kofia's data showed.
The survey results showed the central bank's decision is likely to be in line with the Fed's upcoming rate decision, to be announced in the states on Wednesday.
The central bank's next policy meeting is slated for Oct. 14. In August, the bank made its seventh rate hike move since August last year to tame the high-flying inflation rates.
"More experts are betting for [additional] rate hikes in October," Koifa stated.
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