The Bank of Korea kept the seven-day repurchase rate at 1.75 per cent on Thursday, as expected by all but one of 22 economists surveyed by Bloomberg.[SEOUL] South Korea's central bank left its key interest rate unchanged amid tepid inflation, weakening exports and deepening concern over the growth outlook for Asia's fourth-largest economy.
While Governor Lee Ju-yeol conceded earlier this month that domestic economic growth had moderated and downside risks had increased, he held to the view that the time hadn't come to lower borrowing costs. Most economists see no change in the benchmark all year, although the bond market has flirted with the possibility of a change.
Source: News Formal (newsformal.com)
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