South Korea's Central Bank Keeps Its Benchmark Rate At 3.25%

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Photo: AP

SEOUL, South Korea (AP) – South Korea’s central bank left its benchmark interest rate at 3.25 per cent for a fourth month amid signs inflation is slowing.The Bank of Korea decision came Thursday at a monthly monetary policy meeting.

South Korea’s consumer price index slowed to a rise of 4.3 per cent in September after hitting a three-year high of 5.3 per cent in August.

Inflation in Asia’s fourth-largest economy has still exceeded 4 per cent for nine straight months.

The rate decision also came amid continued worries over the health of the global economy centered on high unemployment in the United States and sovereign debt troubles in Europe.

The BOK has raised its key borrowing cost five times since July of last year from a record low of 2 per cent.

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