South Korea's central bank held interest rates steady on Thursday but a majority of board members signalled another rate cut in the next three months and warned of "significant" economic uncertainty from U.

The country’s new president, in office for a little over a month, had just dispatched his senior deputies to Washington to try to work out a trade deal.

In a widely expected decision, the Monetary Policy Board of the Bank of Korea (BOK) held its key rate steady at 2.5 percent during a rate-setting meeting in Seoul, reports Yonhap news agency