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BOK holds key rate steady at 1.25% in July

South Korea's central bank on Thursday held its key rate steady for July to support the country's growth.

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

In a widely expected move, the monetary policy board of the Bank of Korea voted to keep the key rate at 1.25 percent, extending its wait-and-see approach for the 13th consecutive month.

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)

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