Korea pausing to monitor the delivery of fiscal stimulus

BoK acknowledged "the domestic economy will show a trend of recovery going forward, owing chiefly to the expansionary macroeconomic policies and to the subsiding of the shock from the MERS outbreak". Meanwhile, the Bank believed "the uncertainties surrounding the growth path to be high". 

On the assessment of the MERS outbreak and its impact on consumption, the Bank noted "consumption has declined significantly and the sentiments of economic agents have worsened." 

In addition, the BoK reaffirmed the recovery of the US and believed "the trend of economic recovery in the US has grown evident again" 

The BoK also pointed out "the heightened international financial market volatility due to the situation in Greece" could affect recovery of the global economy.