Bank Of Korea Holds Rate At 3%

Photo: Sub-Zero via YouTube

The Bank of Korea held its benchmark interest rate steady at 3 per cent, which was what economists were expecting.However, some economists were expecting a cut due to a combination of deteriorating economic data and slowing inflation.

Earlier this month, we learned that Korean exports plummeted 8.8 per cent.

Six of the 13 economists surveyed by Bloomberg were expecting the benchmark rate to be cut to 2.75 per cent.

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