South Korea holds interest rates as expected

[SEOUL] South Korea’s central bank kept policy interest rates unchanged as widely expected on Thursday as a tumbling won reduced the scope for further easing and policymakers waited to see how the government’s steps to cool Seoul’s property market play out.

The Bank of Korea’s seven-member monetary policy board voted to keep its benchmark interest rate unchanged at 2.50 per cent, an outcome expected by 32 of 36 economists polled by Reuters.

Governor Rhee Chang Yong will hold a press conference at 0210 GMT, which will be livestreamed via YouTube. REUTERS