South Korea's Central Bank Expected to Maintain Interest Rates in Thursday Meeting

Deep News08:41

The Bank of Korea is likely to keep its policy rate unchanged at its upcoming interest rate setting meeting on Thursday. Out of 25 economists surveyed, 24 anticipate the central bank will hold its benchmark rate steady at 2.50% for an eighth consecutive meeting. However, a majority of economists indicated that under Governor Shin Hyun-sung's leadership, the bank may adopt a more hawkish tone to combat inflation, particularly as tensions in the Middle East have driven up global oil prices. Min Joo Kang, an economist at ING, noted, "At least one committee member is likely to vote for a rate hike during the meeting." Most economists are forecasting a rate increase in the third quarter.

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