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- Bank of Korea has left key interest rate unchanged at 1.25%
Bank of Korea has left key interest rate unchanged at 1.25%
The Bank of Korea has left the key interest rate unchanged at 1.25%. The decision follows when the central bank came up with the decision to hike in January, likely in response to rising consumer prices and household debt. The Bank of Korea's rate hike in January came just two months after it raised it to 1-percent from the previous point-7-5 percent.
''Consumer price inflation in Asia's fourth-largest economy jumped to a near-decade high of 3.6% in January, remaining above the central bank's 2% target for a 10th month.
To tame those price pressures, as well as to curb rampant house price growth and surging household debt, the BOK has raised interest rates three times since August last year,'' analysts at Reuters explained.
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