[Breaking] Bank of Korea Holds Base Interest Rate at 0.5% Annually

[Asia Economy Reporter Jang Sehee] The Monetary Policy Committee of the Bank of Korea has decided to keep the base interest rate at the current 0.50% per annum. This marks the ninth consecutive month of holding the rate steady since it was lowered by 0.5 percentage points in May last year.

On the 25th, the Bank of Korea held a Monetary Policy Committee meeting at its headquarters in Seoul and announced that the base interest rate would be maintained at 0.50% per annum. The decision to keep the rate unchanged is interpreted as a commitment to maintaining an accommodative monetary policy stance in light of the resurgence of COVID-19 and delays in the recovery of the real economy.

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