South Korea: Inflation fizzling out – ANZ

South Korea CPI recorded a significantly large month-on-month decline in April, economists at ANZ Bank apprise. USD/KRW is trading at 1,225.25. 

Key quotes

“Headline and core inflation (excluding agricultural products and oil) contracted 0.6% and 0.2% m/m, respectively.”

“We expect the BoK to continue extending monetary policy support both via standard and non-standard measures. A policy rate at their May meeting, therefore, cannot be ruled out.”