Bank of Korea maintains policy rate at 3.50% amid high inflation and global economic pressure.
The Bank of Korea (BOK) has kept its policy rate steady at 3.50% in the face of high inflation, a weakening won, and global economic pressure. Economists predict that interest rates will remain unchanged through the next quarter with a possible 25 basis-point cut to 3.25% expected in Q4. The central bank is balancing inflation, above its 2% target at 2.4%, with the need for growth and financial stability.
July 09, 2024
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