South Korea central bank holds interest rates steady as expected

[SEOUL] South Korea's central bank kept interest rates untouched on Tuesday, as expected, while observing the fallout from a parliamentary election earlier this month and the effects of policy measures in the major economies.

The Bank of Korea's monetary policy committee held its base rate steady at 1.50 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).

21 of the 27 analysts polled in a Reuters survey forecast the Bank of Korea would keep rates unchanged, but many predicted a cut in the coming months.

REUTERS