Bank of Korea holds rates at 2.5% and signals long pause
The Bank of Korea kept its benchmark interest rate at 2.50% on Thursday. Policymakers raised the growth forecast to 2.0% and signaled a pause until August.
The central bank of South Korea[Country:{ "assets":{ "country":"KR" } }] maintained its benchmark interest rate on Thursday, signaling a likely pause in policy adjustments for the next six months as a surge in semiconductor exports and stable inflation provide room to monitor financial stability risks. The Bank of Korea’s seven-member monetary policy board voted to keep the base rate at 2.50%, a decision that aligned with the unanimous expectations of economists. In an effort to increase transparency, the bank introduced a dot-plot style chart, showing that 16 of 21 projections favored keeping rates steady through August.
