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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