South Korea keeps key rate unchanged at 4.5%

The central bank of South Korea today decided to keep its key interest rate steady for the tenth month in succession, in an effort to boost economic recovery.

The Monetary Policy Committee of the central bank agreed to maintain the call rate target, the uncollateralised overnight rate, at its current level of 4.5%.

Lee Seong-tae, the governor of the central bank, told a press conference after the rate-setting meeting that the nation's economy remains "on an upward path both in terms of exports