South Korea's central bank kept interest rates untouched on Tuesday, as expected, while observing the fallout from a parliamentary election earlier this month and the effects of policy measures in the major economies.
The Bank of Korea's monetary policy committee held its base rate steady at 1.50 percent, a media official said without elaborating.
Twenty-one of the 27 analysts polled in a Reuters survey forecast the Bank of Korea would keep rates unchanged, but many predicted a cut in the coming months.
"If we see the momentum coming back in the second quarter compared to the first, I think the base rate will be kept steady throughout this year," said Park Seok-gil, economist at JP Morgan Chase & Co. "If consumer activity does not recover as expected in the second quarter, expectations for a rate cut may go up."
Markets were little changed after the widely expected decision.