|Page (1) of 1 - 09/08/11||email article||print page|
South Korean central bank leaves key rate at 3.25 percent amid global economic uncertainty
SEOUL, South Korea (AP) ' South Korea's central bank froze its benchmark interest rate for a third month as global economic uncertainty outweighed concerns over accelerating inflation.
The Bank of Korea said Thursday it kept its base rate at 3.25 percent at a monthly policy meeting.
The BOK has raised the key borrowing cost five times since July of last year from a record low of 2 percent.
South Korea's consumer price index rose to a three-year high of 5.3 percent in August from the same month last year after gaining 4.7 percent in July.
Inflation in Asia's fourth-largest economy has exceeded 4 percent for eight months.
The rate decision came amid global economic worries centered on continued high U.S. unemployment and sovereign debt troubles in Europe.