Bank of Korea keeps rates unchanged for 11th mth, as expected

SEOUL, May 25 (Reuters) - South Korea's central bank kept interest rates unchanged for an 11th straight month on Thursday, in wait-and-see mode with a new president still formulating his administration's policy direction.

The Bank of Korea's monetary policy committee held its base rate steady at 1.25 percent, a media official said without elaborating. Governor Lee Ju-yeol will hold a news conference from 11:20 a.m. (0220 GMT)

All 19 economists surveyed by Reuters expected no change in the base rate on Thursday. Nine of them foresaw a rate hike next year.

The base rate has been on hold since a 25 basis point cut in June 2016. (Reporting by Cynthia Kim and Choonsik Yoo; Editing by Eric Meijer)