South Korea freezes interest rates at 2%
South Korea's Finance
Seoul - XINHUA
South Korea's central bank froze its policy rate Thursday at a record low of 2 percent, refraining from altering the rate for three straight months.
Bank of Korea (BOK) Governor Lee Ju-yeol and six other policy board members decided to keep the benchmark seven-day repurchase rate on hold at 2 percent. The bank cut the rate by 25 basis points in August and October each.
The rate freeze is in line with market expectations as seen in the Korea Financial Investment Association's survey of 111 experts. About 96 percent of the respondents predicted the rate on hold in January.
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