Gate.io: South Korea's economy barely avoids recession in the third quarter, Central Bank of South Korea remains cautious on interest rate cuts

The October 24th Golden Ten Data News, Min Joo Kang, an analyst at ING, said that the South Korean economy barely avoided a technical recession in the third quarter, with a seasonally adjusted quarter-on-quarter increase of just 0.1%, which fell short of market expectations. The economist noted that the South Korean Central Bank took a tough interest rate cut in October last year and has been very cautious about indicating further cuts in the near future. ‘However, due to GDP falling below expectations, the South Korean Central Bank’s concerns about the slowdown in the economy should intensify,’ she said. ING expects no rate cut in November, but believes that the tone of the South Korean Central Bank should become more moderate. She added that given the expected inflation rate to remain below 2% for some time, the policy focus should shift to supporting economic growth.