The Bank of Korea is likely to keep rates unchanged at Thursday's policy meeting.

Of the 25 economists surveyed by the media, 24 expect the Bank of Korea to keep its policy rate unchanged at 2.50% for the eighth consecutive meeting. However, most economists say that, under the leadership of Governor Rhee Chang-yong, the bank may adopt a more hawkish tone to curb inflation as tensions in the Middle East drive up global oil prices. "At least one committee member may vote for a rate hike at the meeting," said Min Joo Kang, economist at ING. Most economists expect a rate hike in the third quarter.