Survey: Analysts expect the Bank of Korea to keep its benchmark interest rate unchanged at the upcoming meeting.

A survey published on Sunday showed that economic experts expect the Bank of Korea to keep its benchmark interest rate unchanged at its policy meeting later this week, but a rate hike is possible at the next meeting. A media survey of six economists showed that all of them expect the Bank of Korea's Monetary Policy Committee to keep the key rate unchanged at 3% at Thursday's meeting. Experts said the central bank needs time to assess market conditions after two consecutive rate hikes in July and August. Ahn Jae-kyun, an analyst at Korea Investment & Securities, said: "Although growth momentum is strong and this year's growth forecast still has room for upward revision, core inflation has stabilized to some extent and the exchange rate has stabilized in the 1,330 won range, so there is no sufficient reason to raise rates again for now." The survey also showed that all six economists expect the Bank of Korea to raise rates again in November. Strong semiconductor exports are supporting economic growth, and consumer price inflation is expected to remain well above the 2% target.