BOK keeps rates on hold at 0.75%, monitors impact of the March 16 emergency rate cut

The South Korean central bank, the Bank of Korea (BOK) left the key rates unchanged at 0.75%, citing it is monitoring the impact of the March 16 emergency rate cut and the government stimulus on its economy.

Summary of the statement

Economy may fall below earlier projections.

Growth uncertainty high.

Consumer inflation to fall below earlier projection.

To watch virus outbreak, monetary policies abroad.

Recovery in capital investment subdued, consumption has decreased.

To watch impact of virus on financial stability, markets.