France's Industrial and Commercial Bank: Bank of Korea has opened the door for consecutive tightening.

Kiyong Seong, strategist at Socit Gnrale, wrote in a report that Bank of Korea Governor Lee Ju-yeol released an "indirect signal" at a press conference after the central bank raised its benchmark interest rate by 25 basis points, indicating that the central bank remains open to further tightening in August. The strategist wrote that although Lee's press conference was seen as "truly hawkish," the market seems to have prepared for a more hawkish outcome - either a 50 basis point rate hike or stronger hawkish comments. Seong said, "Given the high sensitivity of policy prospects to upcoming growth and inflation data, we suspect fixed-income recipients may be quicker to take profits than usual as key data is about to be released."