By Cheon Jong-woo
SEOUL, July 9 (Reuters) - Analysts see slightly lower chances for an intererst rate hike by South Korea's central bank later this year, a Reuters poll shows after the Bank of Korea said earlier on Thursday that the economic outlook remained uncertain.
Eight out of 13 analysts surveyed after Thursday's decision to keep interest rates unchanged forecast the central bank would raise the benchmark rate in the first half of 2010, while two predicted a rise in borrowing costs later this year.
The outcome was a slight different form a survey of 12 analysts conducted early this week that showed eight analysts forecast a raise between January and June 2010 with three others predicting an increase later this year.
The latest survey was conducted after the Bank of Korea held the benchmark rate steady at a record-low 2 percent for a fifth consecutive month on Thursday, as widely expected, and said the economic outlook was highly uncertain.
"Inflation is seen easing further and the Bank of Korea is very unlikely to raise interest rates within this year," said June Park, an economist at Woori Investment & Securities, who foresees an increase coming between January and June 2010.
September treasury bond futures also jumped 32 ticks to end at 110.35 as investors took the Bank of Korea's and its governor's comments during the day as suggesting interest rates would stay on hold for an extended period.
Following are forecasts for the base rate (percent):
AUG NEXT MOVE
CUT/RAISE TIMING Kiwoom Securities 2.00 cut 2009 Dongbu Securities 2.00 raise Q1 2010 Hanwha Securities 2.00 raise Q1 2010 Hyundai Securities 2.00 raise Q1 2010 JPMorgan Chase 2.00 raise 2010 Kyobo Securities 2.00 raise Q2 2010 Nomura International 2.00 raise Nov 2009 Samsung Securities 2.00 raise H2 2010 SK Securities 2.00 raise Q4 2009 Taurus Investment & Securities 2.00 raise Q1 2010 Tong Yang Securities 2.00 raise Q1 2010 Tong Yang Futures 2.00 raise Q1 2010 Woori Investment & Securities 2.00 raise H1 2010 ______________________________________________________________ Majority 2.00 raise (Additional Reporting by Lee Eun-yul; Editing by Yoo Choonsik & Jan Dahinten)