South Korea’s central bank is widely expected to freeze the key interest rate for the seventh straight month in December as the local economy is improving amid tame inflation, a poll showed Monday.

All 17 experts forecast that the Bank of Korea will hold the benchmark seven-day repo rate steady at 2.5 percent Thursday, according to a survey by Yonhap Infomax, the financial news arm of Yonhap News Agency.

Analysts said that the BOK is expected to freeze the key rate this month as a set of data pointed to a moderate recovery of the local economy while the timing of the Federal Reserve’s monetary stimulus cut still remains uncertain.

“The BOK is likely to maintain the current stance in managing the rate policy until a stable economic recovery at home and abroad is confirmed,” said Park Hyuk-soo, an analyst at Hyundai Securities Co.

The Korean economy grew 1.1 percent on-quarter in the third quarter, the same pace as in the second quarter, on improving domestic demand and a pickup in facility investment. (Yonhap News)