The Bank of Korea(BOK) kept interest rates steady on Thursday, defying expectations of a rate increase, and signaled that a shaky global outlook means any monetary tightening in the coming months will be modest.
The BOK left its benchmark rate at 2.25 percent, where it has stood since the bank raised it by a quarter of a percentage point from a record low in July. The market had anticipated another quarter-percentage-point increase on Thursday to keep inflation in check.
(Source: The Wall Street Journal Online)