S Korea central bank keeps key interest rates unchanged at 2.75%

14 March 2013 06:24  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s central bank decided on Thursday to maintain its policy rates at 2.75%, while noting that downside risks to growth remain.

“There is no change to the [monetary policy] committee’s forecast that the domestic economy will show a negative output gap for a considerable time, due mostly to the slow recovery of the global economy in consequence chiefly of the sluggishness of economic activities in the euro area,” the Bank of Korea said in statement.

Low consumer price inflation at 1.4% in February “due to the weakening of demand-side pressures” also allowed the central bank to keep its policy rates unchanged, it said.

By: Pearl Bantillo
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