Global Market: South Korea's July inflation cools below expectations as oil prices ease; rate hike bets remain

South Korea's consumer inflation eased to a three-month low in July, falling below market expectations. Lower oil prices significantly contributed to this easing, which was a welcome development. However, policymakers remain cautious about lingering inflationary pressures due to global uncertainties. Core inflation, excluding volatile items, saw a slight increase, indicating underlying price pressures. The Bank of Korea continues to monitor price developments closely for future policy decisions.