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1st LD: S. Korea freezes interest rates at record low

Xinhua, September 11, 2015 Adjust font size:

South Korea's central bank froze its policy rates at a record low on Friday for the third consecutive month.

Bank of Korea (BOK) Governor Lee Ju-yeol and six other policy board members decided to keep the benchmark 7-day repurchase rate on hold at an all-time low of 1.5 percent. The bank lowered the rate by 25 basis points in March and June each, after cutting it by the same extent in August and October last year.

The rate freeze was in line with market estimates. According to a Korea Financial Investment Association survey of 115 fixed- income experts, 95.7 percent of respondents predicted the rates unchanged. Endi