South Korea holds interest rates steady at record low
The bank’s decision to keep rates stable was in line with expectations, according to a survey by the Korea Financial Investment Association (KFIA). Economic conditions in South Korea are reported to have progressed owing to the record-low interest rate and the government’s efforts to revive economy.
South Korea’s domestic auto sales climbed 17.7% on the year in December while gasoline and diesel sales also rose 2.4%. The country’s exports, meanwhile, fell for a twelfth straight month in December, falling 13.8% on a yearly basis on the back of an economic slowdown in emerging economies.
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