Bank of Korea elects to leave its base interest rate unchanged at 2%

By Richard Connell

New York, May 12 - The Monetary Policy Committee of the Bank of Korea left its base rate unchanged at 2% at its meeting on Tuesday, according to release issued by the bank.

The committee noted that the economic slowdown in Korea has moderated due to proactive fiscal and monetary policies, reflected in a smaller decline of export levels.

The committee pointed out that inflation has decelerated due to lower oil and commodity prices, and forecast that this trend should continue for the medium-term.

While noting downside risks to economic growth still exist, the committee focused on positive developments, such as upward movement in the real estate market, improved stock prices and expanded bank lending.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.