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BOK holds key rate steady at 1.25 pct in Sept.

All News 09:59 September 09, 2016

SEOUL, Sept. 9 (Yonhap) -- South Korea's central bank on Friday held its policy rate steady for September, extending its wait-and-see mode for three straight months after sending the key rate to a record low level to strengthen growth for Asia's fourth-largest economy.

In a widely expected move, the monetary policy board of the Bank of Korea (BOK) voted to keep the key rate at 1.25 percent.

In June, the central bank made a surprise rate cut, citing a need to support the economy.

The country's exports posted the first on-year rise in 20 months in August on the back of brisk demand for chips and flat displays. Outbound shipments came to US$40.1 billion last month, up 2.6 percent from the same month last year, according to government data.


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