BUSINESS

BOK holds key rate steady at 1.25% in Feb.

By 임정요
  • Published : Feb 23, 2017 - 10:16
  • Updated : Feb 23, 2017 - 11:17
South Korea's central bank on Thursday held its key rate steady for February to support growth ahead of additional US rate hikes this year.

The Bank of Korea maintained its policy rate at an all-time low of 1.25 percent for the eighth consecutive month in February after sending the rate to its lowest level to support the growth of Asia's fourth-biggest economy. 

Lee Ju-yeol, governor of the Bank of Korea (Yonhap)

In December, the US Federal Reserve raised its key rate by a quarter of a percentage point to a target range of 0.5 percent to 0.75 percent. The Fed is widely expected to raise the rate three more times throughout this year.

In June last year, South Korea's central bank made a surprise rate cut, citing a need to stimulate the lackluster economy amid a prolonged economic slowdown.  (Yonhap)