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All 21 analysts surveyed by Bloomberg expect the Bank of Korea to keep the 7-day repo rate on hold as 0.50% with the South Korean economy recovering but still at an uncertain point in the pandemic.

Exports have been the driver of South Korea's recovery recently, strong external demand for electronics products in particular has seen GDP rise and led analysts and policymakers alike to upgrade growth forecasts. However, virus cases remain elevated and gradually tightening social distancing measures are weighing on the domestic recovery.

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