Barclays: Despite strong GDP in the third quarter, the Bank of Korea is unlikely to change its stance.

Jin10 data reported on October 28, Barclays economist Bum Ki Son wrote in a report that although South Korea's economic growth in the third quarter exceeded expectations, the Central Bank of Korea is unlikely to change its accommodative policy stance. Bum Ki Son stated that the strong growth in third-quarter GDP was largely boosted by fiscal stimulus measures such as one-off cash distributions, which had been accounted for in the Central Bank's earlier forecasts. He added that the Central Bank of Korea expects economic growth to gradually slow starting in the fourth quarter due to the negative impact of tariffs on the economy. Barclays continues to expect the Central Bank to cut interest rates again in November to help support the economy.