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S. Korea freezes policy rate at record low of 0.50 pct
Last Updated: 2020-11-26 09:55 | Xinhua
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South Korea's central bank froze its policy rate on Thursday at a record low for the sixth consecutive month.
 
Bank of Korea (BOK) Governor Lee Ju-yeol and six other monetary policy board members decided to leave the key seven-day repurchase rate changed at an all-time low of 0.50 percent.
 
The BOK cut its target rate by 25 basis points to the record-low level in May, after slashing it by 50 basis points in March to tackle an economic fallout from the COVID-19 outbreak.
 
The rate freeze decision was in line with market expectations. According to a Korea Financial Investment Association (KFIA) survey of 98 fixed-income experts, 98 percent predicted the rate on hold. 

(Editor:Liao Yifan)

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S. Korea freezes policy rate at record low of 0.50 pct
Source:Xinhua | 2020-11-26 09:55
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