South Korea's central bank kept interest rates unchanged for a fourth straight meeting on Thursday as a tumbling won reduced scope for further easing, signalling the bank could be nearing the end of its current rate cut cycle.

The Bank of Korea's monetary policy board voted to keep the benchmark interest rate unchanged at 2.50%, in line with expectations. It also raised both growth and inflation forecasts for this year to 1.0% and 2.1% respectively.

Crucially, the BOK omitted language seen in its previous statement saying the board would "maintain its rate cut stance," and replaced it with "the Board will decide whether and when to implement any further Base Rate cuts."

The hawkish turn pushed the December futures on three-year treasury bonds KTBc1 down and comes as other Asia Pacific c

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