Central bank freezes interest rate for fifth consecutive month

By Park Sae-jin Posted : November 11, 2016, 10:35 Updated : November 11, 2016, 10:35

A file picture on Bank of Korea governor Lee Ju-yeol. [Yonhap News Photo]


South Korea's central bank on Friday held its prime interest rate unchanged at a record low of 1.25 percent for November for the fifth consecutive month to prop up growth for Asia's fourth-largest economy.

The rate has been frozen since the Bank of Korea made a surprise cut in June, citing sluggish exports, weak consumption and a slow economic recovery. Exports fell 3.2 percent on-year to 41.9 billion US dollars last month.

Aju News Lim Chang-won = cwlim34@ajunews.com
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