The Bank of Korea will hold a monetary policy committee meeting later this Wednesday morning to decide on its key policy interest rate.<br />According to Reuters and Bloomberg poll of analysts, South Korea's central bank will likely cut its policy interest rate today to support slowing economic growth and weak price pressures.<br />And, the first-ever drop in consumer prices and a relentless decline in exports in recent weeks are adding to the case for the central bank to cut interest rates.<br />Analysts expect the Bank of Korea, which lowered its key rate in July and left it unchanged in August, to reduce the seven-day repurchase rate by 25 basis points to one and a quarter percent matching an all-time low.<br />
