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Bank of Korea holds key rate for fifth straight meeting…keeps it at 2.50% a year
Korea Economic Daily
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Summary
- The Bank of Korea said it held the key policy rate at 2.50% a year.
- The decision extends a fifth consecutive rate hold, following those in July, August, October and November last year.
- Markets are expecting the BOK is likely to keep rates on hold for the time being.
The Bank of Korea on the 15th held its key policy rate at 2.50% a year.
The BOK held a Monetary Policy Board meeting on monetary policy at its headquarters on Namdaemun-ro in Seoul and decided to maintain the current level of interest rates. This marks a fifth consecutive hold, following those in July, August, October and November last year.
The decision to keep rates unchanged is seen as reflecting reduced need to cut rates as the economy has recently been improving while the exchange rate has risen.
Markets expect the BOK is likely to keep rates on hold for the time being. Some also say the BOK’s rate-cutting cycle has come to a complete end.
Reporter Kang Jin-gyu josep@hankyung.com
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