S.KOREA FREEZES BENCHMARK INTEREST RATE AT 1.5 PCT FOR 8 MONTHS
Last Updated: 2018-07-12
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SEOUL, S.Korea July 12 (NNN-Xinhua) -- South Korea's central bank on Thursday froze its benchmark interest rate at a near-record-low level of 1.5 percent for eight straight months.

Bank of Korea (BOK) governor Lee Ju-yeol and six-other monetary policy board members kept the benchmark seven-day repurchase rate on hold at 1.5 percent.

It was in line with market expectations. According to a Korea Financial Investment Association survey of 100 fixed-income experts, 89 percent predicted the rate freeze.

The BOK refrained from altering its target rate since the bank lifted it to the current level from a record low of 1.25 percent in November last year.--NNN-XINHUA