South Korea’s central bank kept interest rates unchanged on Thursday but revived expectations for an imminent policy easing that some economists see happening as soon as October as growth concerns overshadow inflation worries.
The Bank of Korea (BOK) held the benchmark interest rate (KROCRT=ECI), opens new tab at 3.50% in a unanimous decision, an outcome expected by 38 out of 40 economists surveyed by Reuters.
Governor Rhee Chang-yong, however, said four of the bank’s seven voting members were open to a rate cut within the next three months.
Source: REUTER
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