The Bank of Korea(BOK) has left the key interest rate steady at three-point-five percent for the sixth consecutive time.

The decision was made during the year's seventh session held by the BOK's monetary policy board on Thursday, maintaining the largest-ever two percentage-point gap with the U.S. Federal Reserve’s rate.

Opting against raising the rate despite the gap with the U.S., expanding household debt and the weakening currency appears to be a response to rising uncertainties stemming from the war in Israel.

The BOK is assessed to have taken into account reduced pressure in the U.S. for monetary austerity.