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Bank of Korea holds interest rate at record low of 2%

by ChemOrbis Editorial Team - content@chemorbis.com
  • 17/02/2015 (13:23)
The Bank of Korea (BOK) kept its key interest rates unchanged at a record low of 2% for a fourth straight month in February 2015, in line with expectations. The bank last cut its key rate from 2.25% to 2% in October.

Previously, the bank also lowered its inflation and economic growth estimates for 2015. The BOK cut its growth forecast from 3.9% to 3.4% for this year while reduced its inflation forecasts to 1.9% from 2.4%.
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