Bank of Korea freezes 0.5% of standard interest rate "The economic uncertainty still remains"

The Bank of Korea Financial and Monetary Commission has frozen the benchmark interest rate at 0.5% per annum.

There is still uncertainty about the economic recovery, such as the spread of Corona 19 again, so the interest rate has not been adjusted and the current level has been maintained.

In addition, the BOK revised the real gross domestic product and GDP growth rates this year and next year to -1.1% and 3%, respectively.

This is an increase of 0.2 percentage points from the estimates of -1.3% and 2.8% in August, reflecting this when the growth rate in the past 3Q rebounded more than expected.