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S Korea freezes rates, raises economic outlook

Central bank keeps base rate unchanged for 10th straight month at 1.25%; raises GDP forecast for 2017 to 2.6% on the back of improving exports and indicators

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"When considering the growth and inflation path going forward, it is true the need for rate cuts has diminished. However we will keep an accommodative stance to support economic growth." - Lee Ju-yeol, BOK governor

Seoul

SOUTH Korea's central bank raised its growth outlook for this year and kept interest rates unchanged at a record low for a 10th straight month on Thursday, while its governor shifted policy to a more hawkish stance.

The Bank of Korea's monetary policy committee held its base

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