BoK says rate decision was unanimous and growth rate this year is expected to considerably surpass the May forecast of 2.6%, will assess timing of further increase in inflation pressure, improvement trend in the economy and financial stability

Says:

• Need to monitor high exchange rate volatility, the housing market and household debt growth.
• Household loans increased substantially.
• Uncertainties remain regarding the semiconductor sector, developments in the Middle East and changes in the trade environment.
• Pace of increases in house prices in Seoul and its surrounding areas accelerated.
• Core inflation for this year is likely to be somewhat higher than the previous forecast of 2.4%.