Survey: Bank of Korea to Pause Rate Cuts in July

According to a report by Jinse Finance, all 33 economists surveyed by Reuters expect the Bank of Korea to keep its benchmark interest rate unchanged at 2.50% on July 10. However, they anticipate that rate cuts will resume next month to support economic growth in South Korea, where household debt remains high. Data from the South Korean government shows that in May, home mortgage loans increased by 5.6 trillion won ($4.1 billion), up from 4.8 trillion won in April. This rise may prevent the central bank from cutting rates consecutively, even though it remains on an overall easing path. (Jin10)