Skip to content
Subscriber Only

Bank of Korea Holds Rate at Record Low, Trims GDP Forecast

Updated on

The Bank of Korea held its key interest rate at a record low, opting to monitor the impact of recent cuts in borrowing costs and the government’s fiscal stimulus program.

The decision to keep the seven-day repurchase rate at 1.5 percent was forecast by all 18 analysts surveyed by Bloomberg. It follows four rate cuts since August, including one last month as a “preemptive move” against the economic fallout from the Middle East Respiratory Syndrome.