The Bank of Korea is likely to keep rates unchanged at Thursday's policy meeting.
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Of the 25 economists surveyed by the media, 24 expect the Bank of Korea to keep its policy rate unchanged at 2.50% for the eighth consecutive meeting. However, most economists say that, under the leadership of Governor Rhee Chang-yong, the bank may adopt a more hawkish tone to curb inflation as tensions in the Middle East drive up global oil prices. "At least one committee member may vote for a rate hike at the meeting," said Min Joo Kang, economist at ING. Most economists expect a rate hike in the third quarter.
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