Bank of Korea holds rate but signals possibility of future easing
Governor Rhee Chang-yong says the board can consider rate cut at “appropriate time” in the future
The Bank of Korea (BoK) held its policy rate for the 12th straight meeting today (July 11) while saying it would consider a rate cut at an “appropriate time”.
The BoK’s seven-member monetary policy board decided unanimously to keep the base rate at 3.5%, a level unchanged since January 2023. The board raised rates by a total of 300 basis points between August 2021 and January 2023 to curb inflation.
In a statement, the central bank said inflation has continued its slowing trend, mainly due to the
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