April 20, 2024
Economy
BOK key rate remains at 1.25% in Feb.
[THE INVESTOR] The Bank of Korea on Feb. 23 left its key rate unchanged for February in a bid to support growth ahead of additional US rate hikes this year.
BOK maintained its policy rate at an all-time low of 1.25 percent for the eighth consecutive month in February after sending the rate to its lowest level to support the growth of Asia’s fourth-biggest economy.
In December, the US Federal Reserve raised its key rate by a quarter of a percentage point to a target range of 0.5 percent to 0.75 percent. The Fed is widely expected to raise the rate three more times throughout this year.
In June last year, South Korea‘s central bank made a surprise rate cut, citing a need to stimulate the lackluster economy amid a prolonged economic slowdown.
(theinvestor@heraldcorp.com)
BOK maintained its policy rate at an all-time low of 1.25 percent for the eighth consecutive month in February after sending the rate to its lowest level to support the growth of Asia’s fourth-biggest economy.
In December, the US Federal Reserve raised its key rate by a quarter of a percentage point to a target range of 0.5 percent to 0.75 percent. The Fed is widely expected to raise the rate three more times throughout this year.
In June last year, South Korea‘s central bank made a surprise rate cut, citing a need to stimulate the lackluster economy amid a prolonged economic slowdown.
(theinvestor@heraldcorp.com)
