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Minutes of the Monetary Policy Board Meeting(May 2019)

Monetary Policy Board Secretariat (02-759-4146) 2019.07.02 2263

Most 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 1.75% for the intermeeting period.

However, Dr. Dongchul Cho expressed clear opposition to the idea of keeping the Base Rate at its current level and argued for cutting it by 0.25 percentage points. Dr. Inseok Shin agreed with keeping the Base Rate unchanged from its current level, but disagreed with the phrase in the Monetary Policy Decision stating that "the domestic economy will continue to grow at a rate that does not diverge significantly from its potential level."

(Monetary Policy Board Meeting on May 31, 2019)