Bank of Korea opts to leave its base interest rate unchanged at 2%

By Richard Connell

New York, Dec. 10 - The Monetary Policy Committee of the Bank of Korea left its base interest rate unchanged at 2% at its meeting on Thursday, according to a news release issued by the bank.

The committee noted that the economy of Korea had continued to improve, reflected in higher numbers in both exports and domestic consumption.

Inflation accelerated moderately as a result of the increased demand, but looking forward the committee deemed that it should remain stable.

The committee also looked at other data, which showed general stability in exchange rates and stock prices despite some minor volatility, while noting the upward trend in real estate prices has slowed.

The committee has now held the rate at 2% at 10 straight meetings dating back to February.

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