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Bank of Korea's governor warns of heavy Covid-19 impact on country's economy

The country's central bank held its policy rate at 0.75%, suggesting that although the economic outlook is bad, it would rather bide its time than make further major moves

Governor Lee Ju-yeol says the BOK still has room to take rates below the current record low, and pledges to take active steps within the legal boundaries set out for the bank.


BANK of Korea (BOK) governor Lee Ju-yeol warned that the economy would take a bigger hit from the coronavirus pandemic than the global financial crisis, but stopped short of another big ramping up of stimulus for now.

South Korea's central bank held its policy rate at 0.75...

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