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Bank of Korea Keeps Base Rate Unchanged at 1.25%

Write: 2020-02-27 11:15:42Update: 2020-02-27 13:50:35

Bank of Korea Keeps Base Rate Unchanged at 1.25%

Photo : YONHAP News

The Bank of Korea has decided to leave unchanged its base rate of one-point-25 percent. 

South Korea’s central bank made the decision at a meeting of its Monetary Policy Board on Thursday.

The bank has maintained the base rate for four consecutive months after slashing it last July and October to an all-time low of one-point-25 percent.

Though many predicted another cut in the rate amid the skyrocketing number of COVID-19 cases in the country, the bank opted for caution.

It appears the bank judged it would be better to decide changes to monetary policy after watching more economic indicators.

Prior to this, Bank of Korea Governor Lee Ju-yeol on February 14 warned that the bank should take into consideration the negative side effects from an additional rate cut.

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