South Korea c.bank keeps rates unchanged, as expected

SEOUL Wed Jan 8, 2014 8:13pm EST

Related Topics

SEOUL Jan 9 (Reuters) - South Korea's central bank kept interest rates steady for an eighth straight month on Thursday, as expected, and most economists believe it will stay on hold until at least late this year as the economy slowly recovers.

The Bank of Korea's monetary policy committee held its base rate steady at 2.50 percent, a media official said without elaborating. Governor Kim Choong-soo is due to hold a news conference from 11:20 a.m. (0220 GMT).

Twenty-five out of 26 analysts surveyed by Reuters forecast that the central bank would make no changes in the rate. Eighteen out of 21 analysts who forecast future policy change said the Bank of Korea is likely to raise rates this year or early next year.

South Korea has weathered recent global financial changes better than other emerging market countries and is expected to post a firm recovery in 2014. The Bank of Korea will release its revised economic forecasts for 2014 and new ones for 2015 later in the day. (Reporting by Christine Kim; Editing by Chris Gallagher)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.