This is the fifth month for officials at the monetary policy committee to hold the rate steady following hikes in July and August of last year.

The central bank's action is thought to be a reflection of the crunch in global money markets as well as of high prices of oil and raw materials.

Analysts believe that while rapidly rising prices call for a higher call rate, the central bank may not have been able to do so amid fears that it will cause a further slump in the economy.

Arirang News