South Korea leaves policy rate unchanged


  • Banking
  • Thursday, 26 Nov 2020

The Bank of Korea's monetary policy board voted to keep the benchmark interest rate unchanged at a record low of 0.50%, as forecast by all 22 economists in a Reuters poll.

SEOUL: South Korea's central bank kept its key policy rate steady on Thursday as the economy showed signs of recovery and concerns about rising household debt prevailed, even as the country faced a third wave of coronavirus infections.

The Bank of Korea's monetary policy board voted to keep the benchmark interest rate unchanged at a record low of 0.50%, as forecast by all 22 economists in a Reuters poll.

The central bank is expected to announce its revised growth and inflation forecasts shortly, while Governor Lee Ju-yeol's news conference will be broadcast live on YouTube at 0220 GMT. (1020 am Malaysian time) - Reuters

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