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 zero-point-five percent.
The BOK is sticking with the low rate to offset the uncertainty caused by the pandemic.
It says the pace of the global economic recovery has slowed down because of a resurgence of the virus in many countries.
Also, it's likely not cutting rates further because household debt is rising and so are home prices.
The Bank of Korea cut the rate in March to three quarters of a percent and then once again in May to half a percent.
South Korea's central bank has kept its benchmark interest rate unchanged at a record low of zero-point-five percent.
The BOK is sticking with the low rate to offset the uncertainty caused by the pandemic.
It says the pace of the global economic recovery has slowed down because of a resurgence of the virus in many countries.
Also, it's likely not cutting rates further because household debt is rising and so are home prices.
The Bank of Korea cut the rate in March to three quarters of a percent and then once again in May to half a percent.