BOK Holds Steady Amid Economic and Political Turmoil

Reported 11 days ago

The Bank of Korea has unexpectedly decided to maintain its policy rate at 3%, opting against a third consecutive rate cut despite rising economic challenges and political instability. The central bank's decision comes as South Korea grapples with a weakening currency and a slowing economy, influenced by President Yoon Suk Yeol's controversial martial law decree and the recent Jeju Air disaster. Analysts suggest that the decision reflects concerns about financial stability and a desire to observe ongoing developments before taking further action, indicating potential future cuts to support economic recovery.

Source: YAHOO

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