Bank of Korea Gov. Rhee Chang-yong says the central bank is likely to maintain an easing stance through the first half of next year amid persistent low growth.

Speaking Thursday after the Monetary Policy Board held the base rate at two and a half percent, he said the outlook was based on a 2026 GDP growth forecast of one-point-six percent, though policy could shift if projections are revised in November.

Five of the six board members who voted backed leaving room for a rate cut within three months, with one even calling for an immediate reduction.

Rhee noted signs of slowing home price growth and weaker loan expansion but warned that household debt remains a serious concern, particularly in Seoul’s housing market.

He stressed that while rates alone cannot control housing prices, the bank would avoid fueling expectations with excess liquidity and called for close coordination with government real estate measures.

Rhee also described President Lee Jae Myung’s recent summit with U.S. President Donald Trump as positive, but warned that renewed trade disputes could weigh on growth and stability.