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The Bank of Korea will keep interest rates unchanged for a third time on Thursday to assess the impact of previous hikes on inflation and economic growth, according to a Reuters poll of economists who were divided over the prospect of a rate cut by the end of the year.
Despite inflation running at nearly twice the central bank’s 2-percent target, the BoK was expected to follow its regional peers and hold rates steady over the coming months to support a fragile economy which narrowly escaped a recession last quarter.
All 40 economists in the May 16-22 Reuters poll expected no change to the 3.
