Overview

• The seven-member Monetary Policy Board voted unanimously on July 10 to keep the benchmark rate at 2.50% during its Seoul meeting.
• The hold matched expectations of all 33 economists surveyed in a Reuters poll.
• This decision follows May’s 25-basis-point cut aimed at bolstering growth in response to sluggish domestic demand and trade uncertainty.
• Policymakers pointed to financial-stability risks from rapid home-price gains, mounting household debt and the prospect of U.S. tariffs.
• Governor Rhee Chang-yong is scheduled to outline the bank’s outlook during a 0210 GMT livestreamed press conference.