BOK Likely to Freeze Interest Rates

The Bank of Korea is to decide on the future direction of the benchmark interest rate in its fiscal monetary meeting on Thursday.

The key rate has been held steady at 1.5 percent for eleven straight months and as things stand, it is widely expected to stay unchanged.

The global financial market faces uncertainty ahead of the U.S. Federal Reserve's meeting next week and Britain's referendum on whether to stay in or leave the European Union on June 23.

But some say a rate cut may still be possible in order to prop up the nation's recovery efforts in light of the ongoing corporate restructuring.