Interest rate should remain at 3.25% says research institute

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Interest rate should remain at 3.25% says research institute

The Bank of Korea should hold its benchmark rate at 3.25 percent as Europe’s debt crisis worsens and inflation remains a threat, a state-run Korean research institute said.

“The recent economic slowdown and stabilizing prices have reduced the need for tightening,” the Korea Development Institute said in its biannual outlook report released in Seoul yesterday. “The central bank is better off staying put for the time being so that it can cope with either the possibility of a recession caused by Europe or a possible pickup in inflation.”

Bloomberg

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