South Korea central bank keeps policy rate on hold for 11th mth, as expected

[SEOUL] South Korea's central bank kept interest rates on hold for an 11th straight month on Friday, as expected, taking time out to assess the ongoing recovery and the current corporate restructuring of the shipping and shipbuilding sectors.

The Bank of Korea's monetary policy committee held its policy rate at 1.5 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).

24 out of 26 analysts polled by Reuters had forecast the Bank of Korea would leave interest rates untouched at the first policy meeting for four new board members.

REUTERS