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The Bank of Korea Financial and Monetary Commission has frozen the standard interest rate at 0.5% per annum.
The Financial Services Commission also predicted that this year's economic growth rate in Korea will be around -1.3%, which was expected in August.
Reporter Deokki Yoo will deliver
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The Bank of Korea opened the Financial Monetary Committee, presided over by President Lee Ju-yeol of the Bank of Korea, and decided to maintain the standard interest rate at 0.5% per year.
Following July and August, they have chosen to freeze interest rates three times through this month.
Earlier, the KFTC lowered the standard interest rate by 0.5% in March and 0.25% in May to 0.5%.
The Financial Services Commission explained that while the global economy is still influenced by Corona 19, domestic economic recovery is expected to be slow and inflation pressure is expected to remain low.
Although exports will show a modest recovery, the economic recovery is slow, with the number of employed people sharply decreasing due to the re-proliferation of Corona 19.
The controversy over overheating the real estate and stock markets due to abundant liquidity in the market seems to have been the basis for this rate freeze.
Analysis that the current level of interest rates is close to the effective lower limit also made further cuts difficult.
The Bank of Korea predicted that this year's GDP growth rate will be substantially similar to the August forecast of -1.3%.
In addition, as international oil prices fell and inflation pressure was low, consumer inflation and core inflation rates were expected to remain at 0% for the time being.