The South Korean central bank has frozen its key interest rate for January amid rising concerns about an economic slowdown at home and abroad.

In the first monetary policy board meeting of the year on Thursday, the Bank of Korea(BOK) voted to keep the base rate at one-point-75 percent, following a quarter percentage point hike made last November. 

The market expects the BOK will take a wait-and-see stance for the time being while watching the uncertain economic conditions at home and abroad amid the ongoing U.S.-China trade dispute.