The Bank of Korea just left policy unchanged

Photo by Jonathan Ferrey/Getty Images

As expected, the Bank of Korea left monetary policy unchanged for a fourth consecutive month in October.

The base rate was left at 1.50%, the lowest level on record. 26 of 29 economists polled by Thomson Reuters correctly predicted the decision.

The Bank of Korea has cut rate four times since August last year as the nation battled an outbreak of the deadly MERS virus, a crippling drought and regional economic slowdown led by China.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.