BOK keeps record low interest rate

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BOK keeps record low interest rate

Bank of Korea Gov. Lee Ju-yeol, far left, conducts a monetary policy board meeting at the central bank in Jung District, central Seoul, in January. On Thursday, the board decided to maintain the key interest rate at 0.5 percent. [BANK OF KOREA]

Bank of Korea Gov. Lee Ju-yeol, far left, conducts a monetary policy board meeting at the central bank in Jung District, central Seoul, in January. On Thursday, the board decided to maintain the key interest rate at 0.5 percent. [BANK OF KOREA]

Korea's central bank maintained the benchmark interest rate at 0.5 percent Thursday.

 
The rate has been kept at that record low level since last May.
 
Last year, the monetary policy board of the Bank of Korea (BOK) lowered the base rate twice -- in March to 0.75 percent and in May to 0.5 percent -- as the coronavirus pandemic hurt the economy.
 
While low interest rates have led to surges in stock prices, as investors take advantage of abundant liquidity, the BOK warned last month it will pay attention to financial stability, especially fund flows to asset markets and growth in household debt.
 
 
BY KIM JEE-HEE   [kim.jeehee@joongang.co.kr]
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