The survey shows that the Bank of Korea will cut interest rates by 25 basis points this week
Among the 28 economists surveyed by The Wall Street Journal, 20 predicted that the Bank of Korea will lower its interest rate by 25 basis points to 3.25% at Friday's meeting, while the remaining eight expect the bank to postpone its rate cut until November.
In a report, an economist from Capital Economics wrote: "As inflation is below target and economic activity data shows further slowdown, we predict that the Bank of Korea will start an easing cycle at its scheduled monetary policy meeting on October 11." South Korea's overall inflation slowed to a 43-month low of 1.6% in September.
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