The Bank of Korea is expected to cut its policy rate for the third time in a row next week in response to growing concerns fuelled by political instability over the president's impeachment. Nineteen of the 26 economists surveyed by the Wall Street Journal predicted the Bank of Korea would cut rates by 25 basis points to 2.75 per cent at its January 16 meeting. "Concerns about a slowdown in domestic demand as a result of political turmoil following Yoon's declaration of martial law are likely to be a key driver of the upcoming policy meeting," said Suktae Oh and Kiyong Seong, economists at Socie ́ te ́ Ge ́ ne ́ rale. The remaining seven economists expect the Bank of Korea to remain unchanged in January, ahead of a February rate cut, amid caution about a weaker won. (Kim Ten)