Interest Rates in Korea Remain Unchanged

The Bank of Korea has kept its benchmark interest rate steady at 2% for the 14th consecutive month, says the Wall Street Journal.

 

The Journal notes that analysts predict the first rate hike since the 2008 global financial crisis will likely come in the second half, while some economists see the rate remaining unchanged throughout the year.

 

According to the newspaper, the BOK slashed its main interest rate by more than three percentage points from October 2008 to February last year and has since kept it steady to help boost growth.
 

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