Bank of Korea freezes interest rate at 0.75%
All time low of 0.50% set back in May 2020
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임준혁 2021년 10월12일 15:00
한국은행. 출처=김병철/코인데스크코리아
Photo=CoinDesk Korea

The Monetary Policy Board of the Bank of Korea (BOK) has frozen its base interest at 0.75%.

The board made the announcement on Oct. 12. The BOK raised the base rate to 0.75% this past August from an all-time low of 0.50%.

The 0.50% rate was set in May 2020 as an attempt to offset some of the COVID economic fallout.

The BOK's Monetary Policy Board will meet for the final time in 2021 on Nov. 25. The board will announce additional decisions regarding the base rate on that day.

Meanwhile, the US Federal Reserve continues to set interest rates at near zero.


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