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South Korea's central bank surprised markets on Thursday by keeping its policy interest rate steady, as it assessed the effects of last year's consecutive rate cuts and aimed to bolster the won, which has recently dropped to a 15-year low against the U.S. dollar.
The Bank of Korea maintained its benchmark rate at 3.00%, defying the expectations of most economists.
Only seven out of 34 analysts surveyed by Reuters predicted this outcome, while the majority had anticipated a 25-basis-point reduction. This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about bank of korea governor rhee chang yong set to explain the surprise interest rate decision was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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