Korea's rising unemployment kicks up chances of rate cut
Seasonally adjusted unemployment hits 3.5% in February.
BBVA noted that with Korea’s seasonally adjusted unemployment rate climbing to 3.5% (consensus: 3.2%) in February from 3.2% the previous month on top the recent weak growth outturns, "we believe the data raises the likelihood of a rate cut by the Bank of Korea" in the upcoming policy meeting. The policy rate currently stands at 2.75%.