A new report speculates that the central bank could hike up the interest rate by an unprecedented 50 basis points as South Korea faces the fastest pace of inflation since the Asian financial crisis.

Global investment bank Morgan Stanley shared its expectation on Wednesday that the Bank of Korea could deliver a zero-point-five percent rate hike at its upcoming July 13 policy meeting, contradicting its earlier position that the bank would adjust the rate by a quarter percentage point.

This comes as the consumer price index rose six percent in June from a year earlier, exceeding the central bank’s two percent target for the 15th consecutive month.

Other local investment firms have also forecast a “big-step” rate increase to cool prices, especially those influenced by high energy prices, and to curb capital outflow.

However, some still forecast a 25-basis-point hike, pointing to the potential severity of such a large jump in the key interest rate on the economy, which would have a particularly negative effect on household finances.