SEOUL (Reuters) – South Korea’s central bank kept interest rates unchanged on Thursday, matching market expectations and ending an uninterrupted one-year run of rises.
The Bank of Korea’s monetary policy board held its policy interest rate steady at 3.50%, in line with a unanimous expectation by the 42 economists in a Reuters poll.
The central bank announced the decision without elaborating. Governor Rhee Chang-yong is due to hold a news conference on Thursday.
Local markets showed a muted reaction to the decision, with investors awaiting the news conference.
The central bank also issued revised forecasts for this year’s economic growth and inflation to 1.6% and 3.5%, respectively, both down from November’s projections, which were 1.7% and 3.6%.
Source: Economy - investing.com
