South Korean interest rates unchanged in September

Photo by Andreas Rentz/Getty Images for MTV

As expected, the Bank of Korea left interest rates unchanged at 1.50% at its September policy meeting.

The decision, predicted by 30 of 31 analysts in a recent Thomson Reuters poll, was the third month in a row that policy has been left unchanged.

Since July 2014 the bank has cut interest rates four times, taking the base rate to the lowest level on record. Looking ahead, markets are evenly split on whether the bank will continue to ease policy in the months ahead.

Economic conditions in China, along with upcoming policy decisions from the US Federal Reserve, look likely to determine whether or not this occurs.

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