South Korea’s central bank is expected to cut its policy rate for the third time in a row next week in response to growth concerns heightened by political instability sparked by the president’s impeachment. Nineteen of 26 economists surveyed by The Wall Street Journal predict the Bank of Korea will cut rates by 25 basis points to 2.75% at its Jan. 16 meeting.

“Concerns about slowing domestic demand due to political unrest following Yoon Seok-yeol’s declaration of martial law are likely to be a key driver of the upcoming policy meeting,” said Suktae Oh and Kiyong Seong, economists at Societe Generale. The remaining seven economists expect the Bank of Korea to remain unchanged in January before cutting rates in February amid caution about a weakening won. (Jin Shi)