South Korea central bank holds rates steady for 4th month, as expected

[SEOUL] South Korea's central bank kept interest rates unchanged for a fourth straight month on Tuesday, as expected, while observing the effects from global policy changes on the gradually recovering local economy.

The Bank of Korea's monetary policy committee held its base rate steady at 2.00 per cent, a media official said without elaborating. Governor Lee Ju-yeol is due to hold a news conference from 11.20 am (0220 GMT).

Thirty out of 32 analysts polled by Reuters ahead of the decision forecast the Bank of Korea would hold interest rates steady on Tuesday. But a majority of the analysts expect a rate cut either in March or April to boost economic activity.

REUTERS