[Breaking] BOK Monetary Policy Board holds base rate at 3.0% a year

[Financial News]  The Bank of Korea’s Monetary Policy Board held a meeting to decide the direction of monetary policy on the 22nd and kept the base rate unchanged at its current annual rate of 3.00%.
The BOK had previously raised the base rate by 0.25 percentage points each in two consecutive moves in July and August, bringing it to 3.0%. With financial imbalances—including consumer price inflation, rising housing prices in the Capital Metropolitan Area and growing household debt—still persisting, the BOK is seen as maintaining a strong tightening stance while taking a strategic “breather” this month, as the market expected, to assess the cumulative effects of rate hikes and the trajectory of the real economy.
The Monetary Policy Board’s final monetary policy decision meeting of the year will be held in November.

[email protected] Jung Sang-gyun Reporter