The majority of members shared the opinion that, in overall consideration of the domestic and international financial and economic environments, it would be desirable to keep the Base Rate at its current level of 1.50% for the intermeeting period.

However, Dr. Cho, Dongchul and Dr. Shin, Inseok expressed clear opposition to keeping the Base Rate at its current level and argued for cutting it by 0.25 percentage points.

(Monetary Policy Board Meeting on August 30, 2019)