South Korea central bank holds rates steady in Nov, as expected

[SEOUL] South Korea's central bank kept interest rates steady on Thursday for a fifth straight month, a widely expected move as an anticipated rate hike in the United States in December has increased uncertainties globally.

The Bank of Korea's monetary policy committee kept its base rate unchanged at 1.50 per cent, a media official said without elaborating. Governor Lee Ju-yeol is due to hold a news conference from noon (0300 GMT).

All but two out of 31 analysts polled by Reuters had forecast the central bank would keep the 7-day repurchase agreement rate on hold. The two had seen a cut in the rate to 1.25 per cent.

REUTERS