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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Hong Kong faces uphill battle to lure back Chinese tourists
Weak yen boosts tourist wallets in Japan
Gas prices are putting Washington’s boldest climate policy at risk
India collects record 2.10 trillion rupees as goods and services tax in April
China travel surges for May holiday but consumers remain wary
Macau casinos remain resilient in April as consumers seek fun