BOK holds key interest rate steady for 2nd straight time as recession woes rise

BOK-rate decision

BOK holds key interest rate steady for 2nd straight time as recession woes rise

SEOUL, April 11 (Yonhap) -- South Korea's central bank held its key interest rate steady for the second straight time Tuesday as inflation appears to be easing and concerns are rising over an economic slowdown.

In a widely expected decision, the monetary policy board of the Bank of Korea (BOK) kept the benchmark seven-day repo rate unchanged at 3.5 percent.

This marked the second straight time that the BOK has stood pat on monetary policy following a rate freeze in February. The pause came after the BOK had delivered seven consecutive hikes in borrowing costs since April last year.

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