SEOUL, Oct. 14 (Xinhua) -- South Korea's central bank on Wednesday froze its benchmark interest rate at an all-time low amid the lingering worry about an economic fallout from the COVID-19 outbreak.
Bank of Korea (BOK) Governor Lee Ju-yeol and six monetary policymakers decided to leave the seven-day repurchase rate on hold at the record low of 0.50 percent.
The BOK lowered the target rate by 25 basis points to the current level in May, after slashing it by 50 basis points in March to tackle the economic downturn from the COVID-19 pandemic.
The rate freeze was in line with market expectations. According to a Korea Financial Investment Association survey of 200 fixed-income experts, 100 percent predicted the rate put on hold. Enditem
