Bank of South Korea Maintains Interest Rates Amid Fears that Rise of Coronavirus and Ukraine Crisis Will Affect Economy

The Korean central bank (BOK) left the interest rate at 1.25% today, as the number of coronavirus cases is a cause for concern. In addition, the increasing and tense situation in Ukraine could affect the economic outlook.

The BOK has raised its inflation forecast for this year from 2.0% to 3.1%.

Analysts expect the BOK to begin raising interest rates in the second quarter of this year and that rates will remain at 1.75% through the end of the year.

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