Recent Bank of Korea rate hikes in July and August, lifting the benchmark to 3 percent amid inflation readings near 3 percent and core pressures above target, combined with the Federal Reserve’s first increase in over three years, have created a tight contest between no change and a further 25 basis point move at the November meeting. Strong semiconductor-driven growth, revised upward to 3.3 percent for 2026, and concerns over household debt and housing prices support continued tightening, while the central bank’s dot plot points to a median endpoint of 3.25 percent. Traders are weighing the pace of policy normalization against the need to evaluate prior actions, with October data releases and the intervening policy meeting likely to shape the final consensus on whether additional tightening occurs before year-end.