Traders closely watch the Bank of Korea (BOK) base rate decisions since the short rate is the primary factor in bond and currency valuations. The survey of professional forecasters (SPF) has been widely used as the most reliable BOK base rate decision forecaster. In this paper, we investigate...

A neutral interest rate is a key indicator of the monetary policy stance. This study estimates South Korea’s neutral interest rates and their determinants. Based on the results, we investigate the prior monetary policy patterns of the Bank of Korea (BOK) and evaluate its stance. We adopted a...