Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
South Korea’s central bank kept its policy rate unchanged today (January 11) for the eighth straight meeting, with governor Rhee Chang-yong warning against premature rate cuts.
The Bank of Korea’s (BoK) six-member monetary policy board unanimously decided to hold its benchmark rate at 3.5%, after raising it by a total of 300 basis points since August 2021. The decision had been widely anticipated by economists.
In its statement, the central bank dropped previous language that it will consider
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