Within the Bank of Korea's monetary policy committee, the view was dominant that in six months the base rate will be raised from the current 3% a year to 3.25%–3.5% a year.
Bank of Korea (BOK) on the 27th raised the base rate from 2.75% a year to 3% a year and then released a "dot plot" tallying the seven Monetary Policy Board members' projections for the base rate six months later. Each board member placed three dots for their rate expectations six months out, producing a total of 21 projections.
In this dot plot, the largest number of dots (10) were placed at 3.25%. That was followed by 3.5% (6) and 3% (5). Only a few saw the rate being kept on hold at 3% a year going forward.
This shows a higher upper bound for rates compared with the dot plot released in May. In May, the upper bound was 3.25%, and only two dots were placed there, making it a minority view. Ten dots were placed at 3%, followed by 2.75% (7) and 2.5% (2).