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SEOUL, Aug. 30 (Xinhua) -- South Korea's central bank on Friday froze the benchmark interest rate at 1.50 percent.
Bank of Korea (BOK) Governor Lee Ju-yeol and six other policy board members decided to leave the benchmark seven-day repurchase rate unchanged at 1.50 percent.
It was in line with market expectations. According to a Korea Financial Investment Association (KFIA) survey of 200 fixed-income experts, 78 percent predicted the rate on hold.
The rate freeze decision came after the BOK lowered the target rate last month by a quarter percentage point to the current 1.50 percent.
