BOK freezes key rate for 11th consecutive time amid inflation woes, ups 2004 growth estimate
South Korea's central bank froze its key rate for the 11th straight session Thursday given still-high inflation and a faster-than-expected growth projection for the year. In a widely expected decision, the monetary policy board of the Bank of Korea kept its policy rate unchanged at 3.5 percent. The BOK has continued to stand pat following rate freezes since February last year after delivering seven consecutive rate hikes from April 2022 to January 2023. The rate freeze took place as inflati
May 23, 2024