Reported about 2 months ago
The Bank of Korea maintained its interest rate at 3.50% but indicated a potential rate cut could happen as soon as October due to concerns about economic growth outweighing inflation issues. Governor Rhee Chang-yong noted that four of the seven voting members support a rate decrease in the coming months. The central bank has downgraded its economic growth and inflation forecasts, suggesting a shift in focus from inflation control to stimulating demand while managing financial stability concerns.
Source: YAHOO