BoK holds policy at 2.5% and signals room for further cuts
Rhee Chang Yong says four of six board members open to cutting to 2.25% over next three months
South Korea’s central bank kept rates unchanged today as expected, though it signalled there would be room for further cuts in the months ahead.
The Bank of Korea’s monetary policy board decided to leave the base rate unchanged at 2.5% for the third meeting in a row today (October 23). In a statement after the decision, the BoK said inflation was stable and growth had continued to improve despite global uncertainties.
One board member voted to reduce the interest rate by 25 basis points at the
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