Lee Chang-yong, the governor of the Bank of Korea, said during a press briefing following the Monetary Policy Committee meeting on the 25th, "I think there is a possibility of lowering the rate 2 to 3 times, including in February," adding, "This is not significantly different from what we had assumed."
The Monetary Policy Committee lowered the benchmark interest rate by 0.25 percentage points to 2.75% on this day. Assuming the committee continues to lower the benchmark rate by 0.25 percentage points, this means that the final benchmark interest rate at the end of the year could be in the range of 2.25% to 2.5%.
The governor also noted, "There aren't many views that think we should stop lowering the rate at the current level," adding, "However, I believe we should choose the timing of rate cuts while considering factors outside of the economy."