Bank of Korea keeps interest rates unchanged at 3%


Bank of Korea (BOK) on December 28, 2024 in Seoul.

Kim Jae Hwan | Light Rocket | Getty Images

The Bank of Korea unexpectedly kept its benchmark policy rate at 3% on Thursday, following two consecutive rate cuts at previous meetings amid a slowing economy.

Economists polled by Reuters expected a 25 basis point rate cut.

Korean Cospi After the announcement of the decision, the Kosdaq Index rose 1.25% and the Kosdaq Small Cap Index rose 1.69%. The South Korean won gained about 0.3% to 1,450.27.

The Bank of Korea’s move comes amid political turmoil in the country, with impeached President Yoon Seok-yeol being arrested on Wednesday, the first time a sitting South Korean president has been arrested.

Stock chart iconStock chart icon

Hide content

This is breaking news. Please check back for updates.



Source link

  • Related Posts

    Gaza Al Jazeera reporter takes off protective gear

    Al Jazeera reporter Anas Sharif took off his journalist gear to welcome the announcement of the ceasefire in Gaza. Source link

    Chicago’s Lincoln Park Zoo loses flamingos, seals to bird flu

    Bird flu kills a harbor seal and a Chilean flamingo Chicago Lincoln Park Zoo. The zoo announced that they had received results confirming that highly pathogenic avian influenza was the…

    Leave a Reply

    Your email address will not be published. Required fields are marked *