The South Korean central bank maintained the interest rate as scheduled and raised its economic growth and inflation forecasts for this year.

The Choicetoday financial APP learned that the Bank of Korea has maintained its interest rate policy and stated that it will not restart the easing cycle until there are clear signs of improvement in the financial imbalances in the real estate, credit, and foreign exchange markets. On Thursday, the central bank kept the seven-day repurchase rate at 2.5%. This decision is in line with the expectations of 22 out of 23 economists surveyed by institutions. One economist had predicted a 25 basis point rate cut. Alongside the interest rate decision, the Bank of Korea also released its latest economic forecast report, raising its economic growth forecast for this year from 0.8% in May to 0.9%, and increasing the inflation forecast from 1.9% to 2%.