South Korea’s central bank to freeze key rate in June

By bne IntelliNews June 11, 2013

South Korea's central bank is expected to freeze the key interest rate for June, so as to gauge the impact of the rate cuts carried out in May. According to the survey by Yonhap Infomax, the financial news arm of Yonhap News Agency, the central bank is likely to leave the benchmark seven-day repo rate unchanged at 2.5% during the period.

The government is expected to promote economic growth, by creating an extra budget of KRW 17.3trn and unveiling a set of measures to encourage facility investment and the property market. The nation’s consumer price index (CPI) grew in the 1% range for the seventh straight month in May.

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