South Korea holds policy rate at 2.5%
Central bank says it needs more time to assess changes to household debt and house prices
South Korea’s central bank left its policy rate unchanged at 2.5% today (July 10) amid an increase in household debt and accelerating house price growth in the capital Seoul.
In a statement announcing the decision, the Bank of Korea said the country’s sluggish growth had “somewhat eased” following the uncertainty related to last year’s imposition of martial law and that exports had continued to grow. The bank said consumer price inflation had risen to 2.2% in June while core inflation remained
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