Lee Chang-yong, the governor of the Bank of Korea, noted that "the trend of lowering the benchmark interest rate is likely to continue until the first half of next year."
During a press conference held after the Monetary Policy Committee on the 28th, Lee said, "Korea's economic growth rate is expected to remain low until the first half of next year, but will rise to a level close to potential growth in the second half."
However, he said, "If the growth rate forecast changes from 1.6% in the revised economic outlook in November this year, the currency policy could change as well."
The Bank of Korea adjusted its growth forecast this day, raising it from 0.8% to 0.9% by 0.1 percentage points (p), reflecting the consumption recovery effects from the supplementary budget and the results of U.S. tariff negotiations.
The growth rate forecast for next year was maintained at 1.6%.