Bank of Korea keeps interest rates at 1.25 percent
The Bank of Korea (BoK) on April 13 decided to keep interest rates on hold at a record low of 1.25 percent for the 10th consecutive month to support the country’s economic growth.
Bank of Korea keeps interest rates (Source: TopNews)
Hanoi (VNA) – The Bank of Korea (BoK) on April 13 decided to keep interestrates on hold at a record low of 1.25 percent for the 10th consecutive month to support the country’s economic growth.
The YonhapNews Agency reported that the BoK held its key rates steady this month despitea recent US rate hike.
The centralbank vowed to keep a close watch on conditions related to trade with majorcountries, geopolitical risks, the progress of monetary policy normalisation bythe US Federal Reserve (Fed) and the trend of increases in household debts.
Last month,the Fed raised its interest rates by 0.25 percentage point, towards the targetrange of 0.75-1 percent. The move signaled that extra hikes would be made graduallythis year, Yonhap said.
The BoKexplained that the US rate hike does not necessarily mean it will immediatelyraise its interest rates. The central bank did not hold a monetary policymeeting last month.
It made asurprise rate cut last June to stimulate the lackluster economy.
The countryintends to form a fund worth 7 billion USD in the next five years to supportthe restructuring of small- and medium-size enterprises.-VNA
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Bank of Korea keeps interest rates 
