Bank of Korea holds policy rate steady with inflation below goal

It's mindful of muted inflationary pressures and the won's strengthening

Published Thu, Jan 18, 2018 · 09:50 PM

    Seoul

    SOUTH Korea's central bank left its key interest rate unchanged on Thursday as inflation remains below target and the nation's currency trades near a multi-year high.

    The decision to keep the seven-day repurchase rate at 1.5 per cent, in the next-to-last rate decision before governor Lee Ju-yeol's term ends in March, was forecast by all 17 analysts surveyed by Bloomberg. The economy is likely to grow at the 3 per cent level this year, with inflation in the upper 1 per cent range, the Bank of Korea (BOK) said in a statement.