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BOK Keeps Key Rate Steady at 1.25%

Written: 2020-01-17 10:54:11Updated: 2020-01-17 14:13:35

BOK Keeps Key Rate Steady at 1.25%

Photo : YONHAP News

South Korea's central bank kept its policy rate steady at a record low amid signs of improving economic conditions.

During its first rate-setting meeting of the year on Friday, the Bank of Korea's monetary policy board voted to freeze the rate at one-point-25 percent.

The rate has been kept steady since last October following a rate cut of a quarter percentage point that month and another earlier in July to match the all-time low of one-point-25 percent.

In a recent survey of analysts between January second and eighth by the Korea Financial Investment Association, 99 percent of 100 respondents forecast the rate freeze in January.

The central bank's decision comes amid eased concerns over a trade row between the United States and China and signs of recovery in the global semiconductor industry.

The bank said in a statement after the rate decision that South Korea’s economic growth remained subdued, but some sectors have seen signs of improvement.

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