BOK holds key rate at 2.5% for 7th time amid growing inflationary pressure, weakened won

The Bank of Korea (BOK) held its benchmark interest rate steady at 2.5 percent, Friday, in a seventh consecutive freeze, as rising inflation and foreign exchange volatility in the wake of the Middle East conflict left little room for policy shift. The policy rate has remained unchanged for nine months since July 10 last year. The central bank will hold the next rate-setting meeting on May 28.

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