South Korea Holds Rate a Seventh Month as Risks Rise: Economy
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The Bank of Korea held off from raising borrowing costs for the seventh straight month, highlighting growing risks to its economy from Europe’s debt crisis even as a weaker won threatens to fuel inflation.
Governor Kim Choong Soo and his board kept the benchmark seven-day repurchase rate unchanged at 3.25 percent, the central bank said in a statement in Seoul today. The decision was predicted by all 14 economists surveyed by Bloomberg News.