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Bank of Korea keeps benchmark interest rate steady at 0.5%
Updated: 2021-02-25 08:25:30 KST
South Korea's central bank has kept its benchmark interest rate unchanged at a record low of point-five percent.
The rate freeze likely comes as the bank aims to maintain its expansionary policy to offset the economic fallout from the COVID-19 pandemic.
But despite the pandemic, further cuts might be seen as counter-productive amid rising property prices and the boom in household debt.
The Bank of Korea cut its key interest rate to the record-low point-five percent last May.
The central bank has also kept its GDP growth forecast for this year at 3 percent, same as the previous forecast made in November last year.
Reporter : jhee@arirang.com