BOK expected to keep interest rate unchanged this week: poll

The Korean central bank is widely expected to hold its policy rate steady this week to ensure financial stability amid a weakening currency and an unsettled property market, a poll showed Monday. According to a survey conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, all 18 local analysts and experts polled predicted that the Bank of Korea (BOK) will keep its base rate unchanged at 2.5 percent at its rate-setting meeting scheduled for Thursday. A separate survey by Yonhap News Agency of six additional experts also found unanimous expectations for a rate freeze this month. "Given that apartment prices in Seoul remain strong and the currency continues to weaken, it would be better for the BOK to keep the base rate unchanged," said Park Jung-woo, an economist at Nomura Securities. The BOK's Monetary Policy Board held its key rate steady for three consecutive meetings through October, though it has emphasized the need to support the economic recovery through monetary easing. The central bank has been in an easing cycle, having last cut the key rate at its May meetingWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times