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Commodity Mid Session News

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(22 Feb 2024, 10:12)

Economic Buzz: Bank of Korea Keeps Base Rate Unchanged at 3.5%

The Bank of Korea (BoK) has kept its base rate steady at 3.5% for the ninth consecutive meeting, citing the need for further assessment of domestic and external conditions. Despite a slowdown in domestic inflation, concerns about high household debts and a sluggish property market persist. The BoK's 2024 growth forecast remains at 2.1%, with inflation projected to stay at 2.6%, and core inflation slightly lower at 2.2%.
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