BOK keeps key interest rate at 0.5%
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 started pulling down the economy.
In a written statement to reporters last month, BOK Gov. Lee Ju-yeol said that while there were inflationary forces evident in the market, as oil prices pick up and exports recover, it was too early to raise interest rates.
BY KIM JEE-HEE [firstname.lastname@example.org]