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1st LD: S. Korea freezes policy rate at record low for 9 months

Xinhua, March 10, 2016 Adjust font size:

South Korea's central bank on Thursday froze its benchmark interest rate at a record low of 1.5 percent, keeping a wait-and-see stance for nine months in a row.

Bank of Korea (BOK) Governor Lee Ju-yeol and six other policy makers refrained from altering the benchmark seven-day repurchase rate at an all-time low of 1.5 percent.

The bank cut the rate by 25 basis points in March and June last year each to the current level, after lowering it by the same margin in August and October 2014. Enditem