Several members of the Bank of Korea (BOK) monetary policy board indicated that further interest rate cuts were warranted to support the country’s slowing economy, according to minutes released from the most recent policy meeting.
The minutes revealed a growing consensus among board members that persistent weakness in domestic demand and external uncertainties—such as global trade tensions and sluggish export growth—justify additional monetary easing in the coming months.
“Given the continued downside risks to growth and inflation, some members judged that further policy accommodation would be appropriate,” the minutes stated. 
While the board held rates steady at the last meeting, the tone of the discussion signaled a dovish shift, with concerns raised about lagging business investment, a soft labor market, and inflation consistently below the central bank’s 2% target.
Some members also pointed to the need to stay aligned with global monetary trends, as major central banks, including the U.S. Federal Reserve and European Central Bank, have adopted more accommodative stances.
The release of the minutes adds to market speculation that the BOK may lower rates again before the end of the year, following previous cuts aimed at cushioning the economy from external shocks and weak consumer sentiment.
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