Bank of Korea Freezes Base Rate at 3.50% for 13 Consecutive Months
CryptoNewsTerminal Staff22 Aug, 2024
Bank of Korea Freezes Base Rate at 3.50% for 13 Consecutive Months
The Bank of Korea (BOK) has kept its base rate at 3.50% per annum, marking 13 consecutive months of no change. The BOK raised its base rate by 0.25 percentage point (p) from 3.25% in January last year and has since held it steady. The decision to freeze the base rate was widely anticipated by economists and analysts, as inflation has remained relatively stable and the economy has continued to grow steadily. The BOK is expected to keep the base rate unchanged for the remainder of the year, as it seeks to support economic growth and keep inflation under control.
