The Bank of Korea will freeze the base rate at the current 3.50% per annum on the 23rd, and the US will raise the base rate at 4.75% by 0.25% points sequentially from March, May, and June, revealing the possibility of a rise to a maximum of 5.5%, revealed in the minutes of the Fed meeting. .
In the minutes of the US Fed meeting released on the 23rd, the interest rate will rise twice by 0.25%, and the interest rate gap will widen from 1.75% to a maximum of 2%p, the largest ever.
Commenting on the minutes of the Fed meeting, the Associated Press said, "Almost all Fed policymakers agreed earlier this month to raise rates by a quarter of a point (0.25%), and only a 'few' supported a larger half-point (0.5%) increase." revealed
"Participants generally noted that upside risk to the inflation outlook remains a key factor shaping the policy outlook, and rates should move higher and remain rising until inflation is clearly on the way to 2%," the published minutes said. He said he would do it,” and stated that he would raise interest rates further.
“Participants agreed that the Committee had made significant progress over the past year in moving towards a sufficiently restrictive monetary policy stance,” the Fed Minutes continued. "There were signs that it was starting to ease, but inflation was well above the Commission's long-term target of 2 per cent and we agreed that the labor market was still very tight."
The minutes also noted that "participants generally noted that upside risks to the inflation outlook remain a key factor in shaping the policy outlook." We have observed that progress can be halted.”
The New York Times said of the Fed minutes, "The implication is that policymakers were still focused on keeping inflation under control even before the latest data release showed that the economy maintained a surprising amount of momentum in early 2023." In the weeks since our meeting, inflation data has shown unexpected continuity, and various data points suggest that both the job market and consumer spending remain robust.”
“The minutes of the meeting show that Fed officials are still adjusting to the risk that they may have to do more to keep inflation down, which could look more accurate when policymakers announce new rates and economic forecasts at meetings,” Reuters said. It has a hawkish tendency,” he reported on the day.
The Bank of Korea raised interest rates in April, May, July, August, October, and November of last year and January this year, frozen them in February, and has no meeting in March.