Bank of Korea keeps benchmark interest rate steady at 0.5%
- 4 years ago
한은, 오늘 금통위…기준금리 0.5% 동결
South Korea's central bank has kept its benchmark interest rate unchanged at a record low of point-five percent.
The decision made during the policy meeting on Wednesday comes as the bank maintains its expansionary policy to offset economic uncertainties due to COVID-19.
The bank says the pace of the global economic recovery has been slowed due to the resurgence of COVID-19.
But despite the pandemic, further cuts might be seen counter-productive amid rising household debt and property prices.
The Bank of Korea cut its key interest rate to point-seven-five percent in March and lowered it once more in May to point-five percent.
South Korea's central bank has kept its benchmark interest rate unchanged at a record low of point-five percent.
The decision made during the policy meeting on Wednesday comes as the bank maintains its expansionary policy to offset economic uncertainties due to COVID-19.
The bank says the pace of the global economic recovery has been slowed due to the resurgence of COVID-19.
But despite the pandemic, further cuts might be seen counter-productive amid rising household debt and property prices.
The Bank of Korea cut its key interest rate to point-seven-five percent in March and lowered it once more in May to point-five percent.