Korea's central bank leaves key rate unchanged at 2.5%Updated: 2014-01-09 AM 11:57:38 (KST)
But, let us begin this Thursday afternoon with the central bank's rate decision
The Bank of Korea has left its key interest rate UNCHANGED at two-and-a-half percent for the eighth straight month in January.
Announcing its decision Thursday, the central bank said it expected the economy at home and abroad to stay on a path to moderate recovery.
The bank did however take note of a rapid strengthening of the Korean won against the Japanese currency and lingering uncertainty stemming from the U.S. Federal Reserve's decision to start scaling back its bond-buying program.
The weak yen, which lost a fifth of its value against the won last year, is a major concern among policymakers as it erodes the price competitiveness of Korean exporters against their Japanese rivals.
The central bank also says it expects the Korean economy to grow 3.8 percent this year and four percent next year.
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