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BOK holds key rate steady at 1.25 pct in Oct.

All News 10:07 October 13, 2016

SEOUL, Oct. 13 (Yonhap) -- South Korea's central bank held its policy rate steady for October on Thursday, extending its wait-and-see mode to four 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.

South Korea's exports backtracked 5.9 percent from a year earlier in September due mainly to sluggish shipments of cars and mobile devices. Outbound shipments came to US$40.9 billion last month, down from $43.4 billion for the same month last year, according to government data.


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