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1st LD: S. Korea freezes interest rates at record low after Fed's rate hike

Xinhua, December 15, 2016 Adjust font size:

South Korea's central bank on Thursday froze interest rates at a record low to see the effect from the U.S. Federal Reserve's first rate hike in a year.

Bank of Korea (BOK) Governor Lee Ju-yeol and six other policy board members decided to keep the benchmark seven-day repurchase rate on hold at an all-time low of 1.25 percent.

The bank refrained from altering the rate for six months in a row amid mixed signals facing the Asia's No. 4 economy.

The rate freeze came hours after the Fed raised its key rate by a quarter percentage point to a range of 0.5 percent to 0.75 percent, the first increase since last December. Endit