South Korea’s cen­tral bank leaves key in­ter­est rate un­changed at record low

The China Post - - WORLD BUSINESS -

South Korea’s cen­tral bank on Thurs­day left its key in­ter­est rate un­changed at a record­low 1.5 per­cent, de­spite few in­di­ca­tions that a looser mon­e­tary pol­icy is boost­ing eco­nomic growth.

The de­ci­sion by the Bank of Korea (BOK) was widely ex­pected, fol­low­ing a cut of 0.25 ba­sis points in June.

The BOK has in­sti­tuted four cuts in the past 12 months, to­tal­ing a full per­cent­age point.

But Asia’s fourth-largest econ­omy has shown lit­tle sign of im­prove­ment, with growth in the sec­ond quar­ter slow­ing to just 0.3 per­cent — partly due to an out­break of the MERS virus that sti­fled con­sumer spend­ing.

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