SEOUL, Oct 12 (NNN-YONHAP) – South Korea’s central bank, today froze its benchmark interest rate at 0.75 percent, on worry about the COVID-19 resurgence, that slowed the economic recovery.
Bank of Korea (BOK) Governor, Lee Ju-yeol, and other monetary policy board members, decided to leave the seven-day repurchase rate unchanged at 0.75 percent, after raising the rate from an all-time low of 0.50 percent in Aug.
It was in line with market expectations. According to a Korea Financial Investment Association (KFIA) survey of 100 fixed-income experts, 87 percent predicted the rate on hold.– NNN-YONHAP
