South Korea’s central bank governor Rhee Chang-yong stated with reporters in Washington on Thursday that the bank would likely require at least one or two months to make a decision on domestic monetary policy, which he noted was largely affected by rising oil prices.
According to economists polled by Reuters, the Bank of Korea is expected to cut rates by 25 basis points in the second quarter of this year from the current level of 3.50% and another 25bps before the year end. Base rate is expected to stay at 2.50% by the second quarter of 2025.
