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Bank of Korea keeps benchmark interest rate steady at 0.5% Updated: 2020-11-26 10:01:09 KST

South Korea's central bank has kept its benchmark interest rate unchanged at a record low of point-five percent.
The decision made during the central bank's monetary policy meeting on Thursday likely comes as the bank maintains its expansionary policy to offset economic uncertainties amid the COVID-19 pandemic.
But despite the pandemic, further cuts might be seen as counter-productive amid rising household debt and property prices.
The Bank of Korea cut its key interest rate to point-seven-five percent in March and lowered it once more to a record-low point-five percent in May.
The central bank has also revised up the GDP growth forecast for this year to minus 1.1 percent.
Reporter : jhee@arirang.com
KOGL : Korea Open Government License
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