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Bank of Korea Keeps Its Key Rate on Hold as Economy Slows

The Bank of Korea kept borrowing costs unchanged as it monitors the impact of last month’s rate cut and fiscal stimulus on Asia’s fourth-largest economy.

Governor Lee Ju Yeol and the board held the seven-day repurchase rate near a four-year low of 2.25 percent, as forecast by all 20 economists surveyed by Bloomberg News. Today’s decision followed a 25 basis points cut last month that was the first reduction in more than a year.