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December, 3, 2016

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Central bank of South Korea stands firm, keeps interest rates unchanged

SEOUL--South Korea's central bank on Thursday kept interest rates at 2.5 percent for the 11th consecutive month, citing signs of recovery at home and abroad and uncertainty about the U.S. Federal Reserve's stimulus.

"Global economy is expected to continue moderate recovery, but there still are lingering risks as the U.S. Fed's possible change of monetary policy can ... pummel growth of emerging economies," the bank said in a statement.

The Fed's huge asset-purchase scheme has provided much-needed foreign investment in countries such as South Korea.

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