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BOK Freezes Key Rate at 3.5%

Written: 2023-05-25 10:00:15Updated: 2023-05-25 10:02:51

BOK Freezes Key Rate at 3.5%

Photo : YONHAP News

The South Korean central bank has kept its benchmark interest rate at three-point-five percent for the third consecutive time.

The Bank of Korea(BOK) held a monetary policy meeting on Thursday and decided to keep the rate at the current level following similar decisions in February and April.

A rate freeze had largely been expected amid a gradual fall in inflation as well as concerns over an economic slowdown.

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