The Business Times
business-time-50

South Korea’s central bank unexpectedly holds policy interest rates steady

Summarise
google-preferred-sourceAdd BT as a preferred source
Published Thu, Jan 16, 2025 · 10:14 AM
    • The Bank of Korea held its benchmark interest rate at 3 per cent at its monetary policy review, an outcome expected by only seven of 34 economists polled by Reuters.
    • The Bank of Korea held its benchmark interest rate at 3 per cent at its monetary policy review, an outcome expected by only seven of 34 economists polled by Reuters. PHOTO: REUTERS

    SOUTH Korea’s central bank unexpectedly left its policy interest rate unchanged on Thursday, weighing the impact of its back-to-back rate cuts last year while supporting the won which weakened to a 15-year low versus the US dollar in recent weeks.

    The Bank of Korea held its benchmark interest rate at 3 per cent at its monetary policy review, an outcome expected by only seven of 34 economists polled by Reuters. The remaining 27 had expected the bank to cut the rate by 25 basis points.

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

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Bank of KoreaInterest ratesSouth Korea

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More