Korea keeps rates at 5%

The Bank of Korea opted to hold rates for the sixth straight month in the face of rising inflation.

In a widely expected move, the central bank's Monetary Policy Committee said on Wednesday that it had decided to maintain its benchmark call rate target at 5%.

It added that the expansion of the domestic economy seemed likely to continue and that high oil prices had led to an acceleration in consumer price inflation. However, uncertainty surrounding the global outlook and increasingly volatile f

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