The Bank of Korea is expected to hold its benchmark interest rate steady as it undergoes a reorganization of its board that may influence the timing of a potential policy pivot later this year.

All 19 economists surveyed by Bloomberg forecast South Korea’s central bank will keep its rate at 3.5% on Thursday, as the board convenes with a new member. Hwang Kunil, a former World Bank executive director, highlighted higher-than-targeted inflation and weakening growth potential among concerns as he joined the board earlier this month.