BENGALURU : The Bank of Korea will hold its base interest rate at 3.50 per cent on Thursday and for the rest of this year, suggesting its longest tightening cycle on record is over despite still high inflation, a Reuters poll of economists found.
All 42 economists polled Feb. 13-20 predicted no change to the 3.50 per cent base rate, already the highest since late 2008, at the central bank's Feb. 23 meeting. "Domestic demand faces headwinds from high debt-servicing burdens and a faltering property market; consumer sentiment is also subdued and households are deleveraging," Krystal Tan, economist at ANZ, wrote.
South Korea is heading for another financial crisis
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