The monk speed boost is not supposed to work if you wear armor, but by simply taking the armor off and putting it back on you can benefit from both the speed and the armor.

If you do this accidently and don't want to be abusing a bug, don't worry: the speed bonus goes away again when you switch zones or directly swap armors.

A bug to be exploited as cheese, AND a way to avoid exploiting the bug, both in one post. This is good :)

Considering I'm running a Monk in my current party I'll definitely keep this in mind :D