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BOK holds key rate steady at 1.25 pct in Jan.

All News 09:59 January 13, 2017

SEOUL, Jan. 13 (Yonhap) -- South Korea's central bank on Friday held its key rate steady for January as it takes a wait-and-see attitude toward additional U.S. rate moves this year.

The Bank of Korea maintained its policy rate at an all-time low of 1.25 percent for the seventh consecutive month in January after sending the rate to the lowest level to support the growth of Asia's fourth-biggest economy.

In December, the U.S. Federal Reserve raised its key rate by a quarter of a percentage point to a target range of 0.5 percent to 0.75 percent. The Fed is widely expected to lower the rate three more times throughout this year.

In June last year, South Korea's central bank made a surprise rate cut, citing a need to stimulate the lackluster economy amid a prolonged economic slowdown.

Exports fell 5.9 percent to US$495.5 billion in 2016 from a year earlier due to declines in global demand and low oil prices, according to BOK data.


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