South Korea Central Bank Holds Main Rate Steady
The Bank of Korea's monetary policy committee has decided to keep its benchmark Base Rate unchanged at 2.75%, the South Korean central bank announced this week. This marks the third month in a row that it has done so.
The Bank did not comment on its action in the press release. Inflation in the country is low, opening the possibility for a rate cut. But Governor Kim Choon-soo was quoted by the Financial Times as saying last week that the bank was to "seek other ways to spur growth than monetary policies."
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