SEOUL– South Korea’s reserve bank kept rates of interest the same on Tuesday, kicking back after its very first rate trek in almost 3 years in August and as a renewal in COVID-19 cases clouded the short-term outlook.
The Bank of Korea (BOK) left the benchmark rate of interest the same at 0.75%, as anticipated by 29 of 31 experts surveyed by Reuters.
Governor Lee Ju-yeol’s press conference will be transmitted at 0220 GMT. The BOK in August ended up being the very first significant Asian reserve bank to begin raising loaning expenses because the pandemic begun. (Reporting by Cynthia Kim, Joori Roh; Editing by Ana Nicolaci da Costa and Kim Coghill)