Skip to content
Subscriber Only

Bank of Korea Keeps Rates on Hold to Monitor Europe’s Crisis

The Bank of Korea kept interest rates unchanged after an increase in June as policy makers monitor the threat posed by Europe’s sovereign debt crisis.

Governor Kim Choong Soo and his board held the benchmark seven-day repurchase rate at 3.25 percent, the central bank said in a statement in Seoul today. The decision was predicted by 13 of 14 economists surveyed by Bloomberg News. It raised rates by a quarter-percentage point each in January, March and June.