MNI BOK Preview FEB 2025: On Hold Again.

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• There has been some positive signs in the time since the last BOK meeting with an improvement in CPI, Industrial Production and Unemployment,
• The data over the last month has seen distortions from Lunar New Year Holidays.
• The volatility in the won has moderated, with currency posting gains over the last month.  
• The BOK governor has stepped back from rate cuts, pushing the onus onto the government for a fiscal response.  
• Despite growing consensus we see reason for a pause in February.