South Korea's central bank has decided to expand its forward guidance on monetary policy by providing the views of its seven board members on a quarterly basis with 21 dots in the six-month term, mirroring the U.S. Federal Reserve's so-called "dot plot". The Bank of Korea said the new scheme would be first introduced at the policy meeting being held on Thursday, after 18 months of pilot tests, and at policy meetings every February, May, August and November onwards, when the central bank releases its quarterly economic forecasts.