Bank of Korea keeps rates steady.
Global Banking News - 15 January 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
The central bank of Korea has kept its interest rate steady.
The central bank has kept its key interest rate at a record low for an 11th straight month on Friday. The seven-day repurchase rate of the bank was kept at two per cent in a monetary policy meeting that was attended by representatives of the finance ministry for the first time in a decade. The bank had cut the rate six times from October 2008, but has left it unchanged since last March.
In a statement, the Ministry of Strategy and Finance emphasised 'the need for policy co-ordination between the government and central bank during times of crisis.'
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