South Korea central bank holds rates for 9th month, as expected

[SEOUL] South Korea's central bank kept interest rates unchanged for a ninth straight month on Thursday, on par with market expectations, opting to monitor policy meetings in advanced economies and the global economy.

The Bank of Korea's monetary policy committee held its base rate at record-low 1.50 per cent, a media official said without elaborating. Governor Lee Ju-yeol is due to hold a news conference from 11:20 a.m. (0220 GMT).

Twenty-two of 33 analysts polled by Reuters before the decision forecast the central bank would hold rates on Thursday while the remainder projected a cut. However, 13 of those who saw a hold forecast the bank would cut rates in April or later this year.

REUTERS