Jin-Wook Kim, an economist at Citigroup, said in a note that the Bank of Korea could cut interest rates faster and more sharply in response to weaker-than-expected economic growth. Kim said the Bank of Korea is expected to cut rates by 25 basis points each in January, April and July 2025. The move comes after the Bank of Korea began easing monetary policy by cutting its base rate from 3.50% to 3.25% on October 11. This is a month ahead of Citi's previous forecast, Kim added. He noted that the central bank could also cut interest rates two more times in 2026 - possibly in January and July - to cut the policy rate to 2.00%, down from Citi's previous forecast of 2.50%.