Bank of Korea strikes melancholy note in policy announcement

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The Monetary Policy Committee (MPC) of the Bank of Korea today (August 8) left the country's base rate unchanged at 3%, citing broad concerns about the economic situation both domestic and internationally.

The committee said the economic recovery in the US had "weakened somewhat" and the "sluggishness" of economic activities in the eurozone had "deepened". Growth in emerging market countries had also decreased, the central bank's decision-makers noted, "due mostly to the impact of the economic s

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