Rhee Chang-yong, governor of the Bank of Korea, said on the 26th that "no member of the monetary policy committee said there was a possibility of raising the base rate within three months."
Rhee held a press briefing in the morning after the Bank of Korea's monetary policy committee kept the base rate unchanged at 2.5% per year and said, "Unlike six months out, there was no discussion that rates should be raised three months from now regarding the direction of monetary policy."
According to the dot plot released for the first time that day, 16 of the 21 dots clustered at 2.5%. This means most board members expect rates to remain on hold even six months from now. Of the remaining five, four were at 2.25%, and one was at 2.75%.
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