SEOUL (REUTERS) - South Korea's central bank kept the policy interest rate unchanged at record lows on Thursday, as expected, counting on last month's emergency easing to support the economy as it reels from the coronavirus pandemic.. Read more at straitstimes.com.
SEOUL - South Korea's central bank kept the policy interest rate unchanged at record lows on Thursday, as expected, counting on last month's emergency easing to support the economy as it reels from the coronavirus pandemic.
Virus fears made South Korean consumers the most pessimistic in more than a decade, while exports began shrinking, as the coronavirus ravaged the global economy and supply chains. "Asia's heavily export-dependent economy still remains at risk from the so far unrestrained global spread of the disease, which is denting exports," said ING economist Prakash Sakpal, who sees the bank slashing rates by another 50 basis points in the current quarter.
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