The Bank of Korea is expected to postpone the next interest rate cut until October

ChainCatcher news, Min Joo Kang, a senior economist at ING, stated that the Bank of Korea is expected to delay its next interest rate cut until October to address the recent rise in domestic housing prices and household debt.

Kang pointed out that the Bank of Korea can act cautiously, focusing more on financial stability, and that inflation is expected to remain near the central bank's 2% target in the foreseeable future. The country's overall consumer inflation in June rose 2.2% year-on-year, slightly above the market consensus expectation of 2.1%. The core inflation rate, excluding volatile food and energy prices, has remained stable at 2.0% for the second consecutive month.