Bank of Korea Governor Lee Chang-yong said during a press conference held right after the Monetary Policy Committee meeting on the 29th that "four of the six Monetary Policy Committee members, excluding myself, expressed the opinion that we should keep open the possibility of lowering the current interest rate below 2.50% per annum within the next three months."
Governor Lee noted that "the four believe that, given the economy has worsened more than expected, it would be appropriate to check financial stability risks and boost the economy through additional interest rate cuts." He added, "The other two suggested that it would be better to decide on interest rate cuts after examining the effects of lowering the base rate, the interest rate gap between South Korea and the United States, changes in U.S. tariff policy, fluctuations in real estate prices in the metropolitan area, and the new government's economic policy."
The governor also said, "All six Monetary Policy Committee members have a conditional view that it is not certain that there will definitely be an interest rate cut or freeze within three months, as it can change depending on economic conditions."