May 23, 2024 01:03 GMT
MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50% - Press
(MNI) Tokyo
(MNI) TOKYO
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The Bank of Korea board on Thursday decided to keep the policy interest rate unchanged at 3.50% amid persistent concern over stubborn inflation for the 11th straight meeting, Wowkorea reported.
The decision was widely expected as the nation’s inflation rate stayed at high levels, although the headline CPI fell to 2.9% in April from 3.1% in March. (See MNI BOK WATCH: Board To Hold At 3.5%, Rate Cut Delayed To Q4)
Focus now turns to how the governor refers to the outlook for monetary policy, including price stability and concern over the weaker economy.
The next meeting is scheduled for July 11.
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