Bank of Korea Keeps 2% 7-Day Repo Rate

June 11, 2009

South Korea’s key policy interest rate was left at a record low of 2% for a fourth consecutive monthly meeting as expected, and a statement released by officials concluded that an accommodative stance will continue for the “time being.” Even though positive growth resumed last quarter just barely, downside risks persist, and inflation has subsided.  Six straight rate reductions from October through February totaled 325 basis points from a 5.25% peak level.

Copyright 2009 Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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