Bank of Korea keeps key rate unchanged at 2%.

By bne IntelliNews December 11, 2009
According to Channel News Asia , the Bank of Korea (BOK) announced on Thursday that it had decided to keep its seven-day repo rate interest rate unchanged at 2%. This was the tenth successive month in which the rate remained at its current record low level. The BOK reduced the key rate by a total of 3.25pps between Oct 2008 and Feb 2009 in order to stimulate economic growth. The BOK said that while the country's exports and consumption had shown an improvement, uncertainties in economic growth persisted. The BOK also said that it would maintain its accommodative monetary policy for some more time in order to support the country's economic recovery.

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