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The Bank of Korea¡¯s Monetary Policy Committee decided to freeze the key interest rate at 4.25 percent at a meeting on Friday. The central bank made the decision taking North Korea¡¯s unexpected missile launches into account but did not rule out further interest hikes in the future. The central bank has hiked interest rates since last October.
BOK Governor Lee Seong-tae told reporters the bank froze the rates to take time to watch how the situation develops after the launches. But he strongly hinted at another hike soon since inflation pressure from an economic recovery and high oil prices remains and the current interest level is still low enough to bolster the ongoing recovery.
(englishnews@chosun.com )
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