Korea’s central bank on Friday kept its key interest rate unchanged for the fourth straight month for December amid financial turmoil and record-setting oil prices, despite growing inflationary pressures.
Bank of Korea (BOK) Gov. Lee Seong-tae and his six fellow policymakers held the December target for the call rate, the interest charged on overnight inter-bank loans, steady at a six-year high of 5 percent.
"Turbulent financial markets worldwide will not likely stabilize in the next few months," said BOK Gov. Lee after the rate-setting meeting.
"The central bank will consider external factors such as oil and raw material prices and international financial markets as well as the domestic economy in deciding the key rates each month." he added it.
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