South Korea freezes key rate at record low 0.5%

Bank of Korea (BoK) governor Lee Ju-yeol (pic) and six other monetary policy board members left its benchmark seven-day repurchase rate unchanged at an all-time low of 0.50%.

SEOUL: South Korea’s central bank yesterday froze its key interest rate at a record low as the continued Covid-19 pandemic offset the signs of economic recovery shown in recent economic indicators.

Bank of Korea (BoK) governor Lee Ju-yeol and six other monetary policy board members left its benchmark seven-day repurchase rate unchanged at an all-time low of 0.50%.