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SEOUL, July 13 (Xinhua) -- South Korea's central bank on Thursday froze its benchmark interest rate at a record low, refraining from altering the rate for 13 months in a row.
Bank of Korea (BOK) Governor Lee Ju-yeol and six other monetary policy board members decided to put the seven-day repurchase on hold at 1.25 percent. The policy rate was lowered to the current level in June last year.
It was in line with market expectations. According to a Korea Financial Investment Association (KFIA) survey of 200 fixed-income experts, 98 percent of respondents predicted a rate freeze.
