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2026-09-21 08:22:11
[JPMorgan Chase: South Korean Interest Rate Forecast Faces Further Upside Risk, Benchmark Rate Expected to Rise to 3.75%] (1) JPMorgan Chase stated that as long as credit and financial markets remain stable, if semiconductor-driven economic growth pushes up inflation, its already higher-than-expected South Korean interest rate forecast faces further upside risk. (2) The institution expects the Bank of Korea to raise interest rates in November this year, February next year, and May next year, raising the policy benchmark interest rate to 3.75% in this tightening cycle. (3) This forecast is higher than the median expectation of 3.5% from a media economist survey; the economists who participated in the survey expect the interest rate to remain at 3.5% until the second quarter of 2028. (4) JPMorgan Chase economist Seok Gil Park said in an interview: "Our forecast is 3.75%, but it is too early to determine the upper limit of the interest rate at this stage. We are experiencing an unprecedented macroeconomic shock."
