Economy News

Bank of Korea holds rates as expected after back-to-back hikes

By Reuters1 min readInvesting.com
Bank of Korea holds rates as expected after back-to-back hikesBank of Korea holds rates as expected after back-to-back hikes

Bank of Korea holds rates as expected after back-to-back hikes

SEOUL, Oct 22 (Reuters) - The Bank of Korea left its benchmark interest rate unchanged at 3.00% on Thursday, pausing after back-to-back quarter-point hikes in July and August.

The seven-member monetary policy board at the BOK voted to keep the seven-day repurchase rate at 3.00%, a decision that was forecast by all 34 analysts surveyed by Reuters.

Governor Shin Hyun Song will hold a news conference at 0210 GMT.