ChainCatcher news, the governor of the Bank of Korea stated that a transition period may occur in the coming months, making it difficult to assess the direction of the political situation. He does not believe that turmoil will force the central bank to cut interest rates further.

ChainCatcher news, according to Jinshi reports, South Korean central bank officials stated that they are prepared to take sufficient measures to stabilize the market if necessary, and will release information after the meeting.

ChainCatcher news, Citigroup economist Jin-Wook Kim stated in a report that the Bank of Korea may cut interest rates more quickly and more significantly to address weaker-than-expected economic growth. Kim indicated that the Bank of Korea is expected to lower rates by 25 basis points in January, April, and July of 2025.Previously, the Bank of Korea lowered the benchmark interest rate from 3.50% to 3.25% on October 11, initiating an easing monetary policy. This was one month earlier than Citigroup's previous forecast, Kim added. He pointed out that the central bank may also cut rates twice more in 2026—possibly in January and July—bringing the policy rate down to 2.00%, below Citigroup's earlier forecast of 2.50%.

ChainCatcher news, according to KBS, the Bank of Korea's Monetary Policy Committee held its seventh monetary policy direction meeting of the year today (11th), lowering the benchmark interest rate from the current 3.50% to 3.25%, a decrease of 25 basis points.This rate cut marks a shift from the Bank of Korea's monetary tightening stance, which began in August 2021 with a 0.25% rate increase, to a loosening stance after 3 years and 2 months.

ChainCatcher news, among the 28 economists surveyed by The Wall Street Journal, 20 predict that the Bank of Korea will lower interest rates by 25 basis points to 3.25% at its meeting on Friday, while the remaining 8 expect the Bank of Korea to delay the rate cut until November. Economists at Capital Economics wrote in a report: "Given that inflation is below target and economic activity data shows further slowing, we expect the Bank of Korea to initiate an easing cycle at its scheduled monetary policy meeting (October 11)." South Korea's overall inflation rate slowed to 1.6%, a 43-month low, in September.

ChainCatcher news, the Financial Settlement Bureau of the Bank of Korea's Electronic Financial Investigation Team today released a report titled "Key Issues and Legislative Directions Related to Cryptocurrency Asset Regulation." The report argues that it is necessary to introduce an IEO system for cryptocurrency assets in South Korea and to consider applying foreign exchange trading regulatory provisions to stablecoins.The Bank of Korea believes that it is essential to introduce an IEO scheme that only allows cryptocurrency assets to be issued after being reviewed by exchanges, while prohibiting issuers of cryptocurrency assets from raising funds through direct sales of cryptocurrency assets. Instead, funds should be raised by selling through exchanges after evaluating the issuing company. Additionally, due to the increasing cross-border remittances of cryptocurrency assets and global stablecoins, it is necessary to clarify the legal nature of cryptocurrency assets in the Foreign Exchange Transaction Act, explicitly stating that the remittance, deposit, and trading of funds used to purchase cryptocurrency assets are considered capital transactions. (CoinDesk Korea)