SEOUL, January 16 (AJP) - The Bank of Korea (BOK) on Thursday kept its benchmark interest rate unchanged at 3 percent, citing concerns over the weakening Korean won.
The decision comes after two consecutive rate cuts of 0.25 percentage points in October and November.
The BOK cited the recent surge in the won-dollar exchange rate as a key factor in its decision.
Economists believe that further interest rate cuts could exacerbate the depreciation of the won by widening the interest rate gap between South Korea and the United States, which currently stands at 1.5 percentage points.
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