I just reviewed analysts' forecasts for the Bank of Korea's monetary policy meeting this Friday, and the 27 surveyed experts agree on one point: interest rates will remain unchanged.

What’s interesting here is the context behind this decision. With the leadership change at the central bank and the still tense geopolitical situation in the Middle East, monetary policymakers are going to play it safe. Although there was a ceasefire agreement between the United States and Iran, maritime transportation through the Strait of Hormuz remains under pressure, which has impacted economic growth and increased inflation risks.

According to Barclays analysis, there is a smart strategy here. The outgoing president could keep several options open at this meeting, giving the new president greater flexibility when taking over in May. This is particularly relevant because interest rates will continue to be a key tool in upcoming monetary policy decisions.

In reality, these kinds of transitions at central banks are usually moments of caution. No one wants to make drastic changes to interest rates just when leadership is in transition and the global economy remains unpredictable. Markets have probably already priced in this pause, so I don’t expect surprises on Friday.