The Bank of Korea (BOK) said Tuesday it expects consumer inflation to remain stable for the time being, reinforcing views that the central bank may consider a policy pivot.

BOK Deputy Gov. Kim Woong made the remarks after consumer prices slowed to the lowest level in nearly 3 1/2 years in August.

“Inflation is expected to remain stable for the time being at a current level unless there is a major shock from the supply side,” Kim said in a statement.

Last month, the BOK held its key rate steady at 3.5 percent for the 13th straight session due to soaring home prices but opened the door for a policy pivot this year.

Source: Yonhap News Agency