South Korea’s central bank holds rates steady again
Governor says board agreed restrictive policy should continue for a considerable time
The Bank of Korea held its policy rate steady for the fourth consecutive meeting today (July 13), amid lingering inflationary pressures and a sluggish economy.
The BoK’s seven-member board unanimously decided to leave the base rate unchanged at 3.5%, the highest level since December 2008. The board thought it was appropriate to maintain its current “restrictive” policy for a considerable time, BoK governor Rhee Chang-yong told a press conference.
Rhee said six board members were open to the
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