Bank of Korea Holds Rate Steady for 12th Time

By Kwanwoo Jun

South Korea's central bank held its base rate steady in a move that was widely anticipated but comes alongside growing expectations that it could be gearing up to pivot towards policy easing in the coming months.

The Bank of Korea on Thursday kept its benchmark seven-day repurchase rate unchanged at a 15-year high of 3.50% for a 12th straight time.

All 26 economists surveyed by The Wall Street Journal had expected the bank to stand pat in July, with some penciling in a rate cut as early as in August and most forecasting the start of policy easing in October or November.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

07-10-24 2107ET