Business

South Korea central bank holds rates, as widely expected

South Korea's central bank kept monetary policy unchanged on Thursday as a surge in coronavirus cases threatened an export-led economic recovery.

FILE PHOTO: The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji

27 May 2021 09:00AM

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SEOUL: South Korea's central bank kept monetary policy unchanged on Thursday as a surge in coronavirus cases threatened an export-led economic recovery.

The Bank of Korea, as expected by all 26 analysts in a Reuters poll, kept the base rate steady at a historic low of 0.5per cent.

Governor Lee Ju-yeol is due to hold a news conference from 0220 GMT.

(Reporting by Cynthia Kim, Joori Roh; Editing by Sam Holmes)

Source: Reuters