according to Yonhap News Agency, Lee Chang-ryong, the governor of the Bank of Korea, said that despite cautious monetary policy, the key interest rate of the Bank of Korea will decrease due to stable inflation.

Yonhap News Agency quoted Lee Chang-ryong as saying to reporters in Washington at the International Monetary Fund (IMF) annual meeting that the timing and pace adjustment of the easing cycle does not mean that interest rates will not be lowered. He also said that after the economic contraction in the first quarter, the Bank of Korea may once again lower its economic growth forecast for this year, but did not provide specific details. The bank has revised its forecast several times, most recently lowering it to 1.5% by 2025.