[THE INVESTOR] The Bank of Korea said on July 29 that it will maintain the low benchmark rate in light of the slow economic growth rate expected in the near future.
The Bank of Korea.
In a report submitted to the National Assembly, the central bank said that the current monetary policy will be maintained, citing the low growth rate and projections that inflation will fall short of the target.
The central bank said that the country’s monetary policy will be implement with the aim of raising inflation rate to meet the target and to aid the economic recovery. In June, it lowered the benchmark to record low of 1.25 percent.
The BOK also said that it will closely monitor external conditions such as the impact of the UK departure from the European Union, and domestic factors such as the ongoing restructuring in a range of industries.
By Choi He-suk (
cheesuk@heraldcorp.com)
