Bank Of Korea Leaves Interest Rates Unchanged

South Korean

Photo: China Hush

The Bank of Korea left its seven-day repo rate unchanged at 3.25 per cent, as expected by economists polled by Bloomberg.Although the South Korean central bank said economic indicators showed a faltering recovery in the U.S. and continued difficulty in Europe, conditions in Korea have brightened.

In a statement, the bank said it would monitor inflation and the economic climate before changing rates.

“[We] will conduct monetary policy so as to stabilise consumer price inflation at the midpoint of the inflation target over a medium-term horizon amid continuing sound growth of the economy,” the central bank said in a statement.

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