Bank of Korea sounds upbeat on outlook

Exports improving: Ships are docked as containers sit in the Busan Port Terminal. Preliminary exports data showed global demand for South Korean products rebounded in November, while industrial output saw its sharpest year-on-year growth in seven months in September. — Bloomberg

SEOUL: South Korea’s central bank kept its key policy rate steady for a fourth straight meeting yesterday and sounded upbeat on the economic outlook even as the country faced a third wave of coronavirus infections.

The Bank of Korea’s (BoK) unanimous decision to keep its base rate at a record low of 0.5%, as widely expected, comes as policymakers also worry further easing could add fuel to a red-hot property market.