The Bank of Korea Monetary and Monetary Commission will hold a 30-day monetary policy direction decision meeting to set the base rate.
Earlier this month, the rate was lowered from 1.75% to 1.50% during the KMT meeting, which is likely to freeze interest rates.
However, following the US-China trade conflict, the economic uncertainty surrounding Korea and other countries, such as Japan's export retaliation, has increased, raising the possibility of further cuts within the year.
Lee also mentioned the possibility of further easing in a parliamentary report today. "When macroeconomic conditions deteriorate so much that we need to respond with monetary policy, we will do so."
The government also will hold an interim meeting on Tuesday to announce its budget next year.
Hong Nam-gi, deputy prime minister and Minister of Strategy and Finance, told a news conference on Tuesday that the government's budget plan for next year will be about 513 trillion won, an increase of about 9% from the previous year.
(Photo = Yonhap News)
Next week, Han is paying attention 513 trillion won announced next year's budget
2019-08-24T02:46:54.839Z
The Bank of Korea Monetary and Monetary Commission will hold a 30-day monetary policy direction decision meeting to set the base rate. The interest rate freeze is likely at this meeting because the benchmark rate was lowered from 1.75% to 1.50% once at the KMT meeting last month.
Source: sbskr