Bank of Korea leaves key rate unchanged at 1.50%
|The South Korean central bank, the Bank of Korea (BOK), at its monetary policy meeting on Friday, left its benchmark interest rate, 7-Day Repo Rate unchanged at 1.50%, despite growing US-China as well as Japan-South Korea trade risks.
The BOK cut interest rates by 25bps for the first time in three years in July.
The Korean Won (KRW) reversed from six-day highs of 1208.15 against the US dollar on policy announcement, pushing USD/KRW to 1210.55 highs. At the press time, the cross trades around 1209.50 levels.
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