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Thursday, February 14, 2013 12:39:09 PM (IST)  

South Korea freezes key interest rate

Seoul, Feb 14 (IANS): Bank of Korea (BOK), South Korea's central bank, froze its benchmark interest rate at 2.75 percent Thursday, maintaining a wait-and-see stance for four straight months.

The central bank cut the base rate by 25 basis points in July and October last year, reported Xinhua.

The central bank's decision was in line with market consensus as most experts predicted the rate freeze on improved economic conditions after the South Korean currency reversed its appreciating trend against the US dollar.

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