South Korea freezes interest rate at record low of 0.50 per cent

A South Korean national flag and the Bank of Korea flag fly outside the central bank's headquarters building in Seoul, South Korea. Bank of Korea Governor Lee Ju-yeol and other monetary policy board members decided to keep the seven-day repurchase rate on hold at an all-time low of 0.50 per cent. Bloomberg

SEOUL, July 16 (Xinhua): South Korea's central bank froze its benchmark interest rate at a record low on Thursday (July 16) to see the effect of the previous rate cuts earlier this year amid lingering worry about an economic fallout from the Covid-19 outbreak.

Bank of Korea (BOK) Governor Lee Ju-yeol and other monetary policy board members decided to keep the seven-day repurchase rate on hold at an all-time low of 0.50 percent.