South Korea central bank keeps rates unchanged, as expected

[SEOUL] South Korea's central bank kept interest rates steady on Thursday, in line with market expectations, as it monitors the effects of its two rate cuts this year as well as policy decisions in the United States and Japan.

The Bank of Korea's monetary policy committee kept its base rate unchanged at 2.0 per cent, that matches a record low, a media official said without elaborating. Governor Lee Ju-yeol is due to hold a news conference from 11:50 a.m. (0250 GMT) All 33 analysts polled by Reuters had forecast the central bank would keep the 7-day repurchase rate on hold after cutting it in October. For the central bank's next move, 14 analysts predicted a rate cut, while 10 expected a hike.

REUTERS