S. Korea's Central Bank Holds Key Rate

S. Korea's Central Bank Holds Key Rate

South Korea's central bank maintained its key rate for the fifth straight meeting, as widely expected, on Friday.

The Monetary Policy Board of the Bank of Korea decided to leave the base rate unchanged at 1.50 percent. The bank had last raised its rate in November.

«Looking ahead, the Board will conduct monetary policy so as to ensure that the recovery of economic growth continues and consumer price inflation can be stabilized at the target level over a medium-term horizon, while paying attention to financial stability,» the bank said in a statement.

Policymakers said they will judge carefully whether it is necessary to adjust its accommodative monetary policy stance further, while closely checking future economic growth and inflation trends.

The board also said it will also monitor conditions related to trade with major countries, any changes in the monetary policies of major countries, the trend of increase in household debt, and geopolitical risks.

The bank expects inflation, after remaining in the mid-1 percent range for some time, to pick up and gradually approach the target level.

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