South Korea's central bank kept its key rate steady at 1.5 percent for the month on Friday, extending its wait-and-see mode for the 11th consecutive month.
The Bank of Korea has stood pat on the policy rate since June 2015 after sending it to a record low level to help bolster growth in Asia's fourth-largest economy.
Friday's decision by the BOK monetary policy board comes amid continued signs of a sagging economy.
South Korea's exports have fallen every single month since the start of last year, posting an 11.2-percent on-year plunge in April that also followed a 13.1-percent on-year drop in the first three months of the year.
Domestic consumption, one of the two main pillars of growth here, has also been on the wane, with the rise in consumer prices remaining in the low 1-percent range for three consecutive months since February.
Still, many had anticipated a rate freeze in May, citing growing concerns over mounting household debt.
Household credit, which includes household loans and credit purchases, came to a record high of 1,207 trillion won as of the end of last year, and reportedly continues to grow.
On Thursday, the central bank said household loans extended by local banks gained 5.3 trillion won in April alone to reach 654.3 trillion won.
In an earlier poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, 16 out of 18 economists surveyed forecast a rate freeze in May. (Yonhap)
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