South Korea central bank holds rates, hike seen next year

The Bank of Korea held interest rates steady on Thursday for a second month as it looks on track to keep them unchanged for the rest of the year, with South Korea’s economy taking small steps to recovery.

The Bank of Korea’s monetary policy committee left its base rate at 2.50 per cent, a media official said without elaborating.

All but one out of 24 analysts polled forecast the Bank of Korea would leave its base rate unchanged at 2.50 per cent at its July 11 meeting, with the remaining respondent predicting a reduction.

via Business feed http://www.scmp.com/business/economy/article/1280172/south-korea-central-bank-holds-rates-hike-seen-next-year