South Korea central bank holds rates steady as expected

South Korea's central bank held interest rates steady for a second consecutive month on Friday, as expected, taking time out to asses the effect of past easings on the local economy and global growth trends.

PHOTO: BLOOMBERG

MAY 15, 20159:41 AM

[SEOUL] South Korea's central bank held interest rates steady for a second consecutive month on Friday, as expected, taking time out to asses the effect of past easings on the local economy and global growth trends.

The Bank of Korea's monetary policy committee held its base rate steady at 1.75 per cent, a media official said without elaborating. Governor Lee Ju-yeol is due to hold a news conference from 0220 GMT.

Thirty out of 34 analysts polled by Reuters ahead of the decision forecast the Bank of Korea would hold interest rates on Friday amid recent comments from policymakers regarding positive improvements in the economy.

REUTERS