Bank of Korea extends interest rate freeze

SEOUL, 22nd August, 2024 (WAM) -- Korea's central bank froze its key rate for the 13th straight session Thursday due to soaring home prices but may start a policy pivot this year amid moderating inflation and a slower-than-expected economic outlook, Yonhap News Agency reported.

The monetary policy board of the Bank of Korea (BOK) kept its policy rate unchanged at 3.5 percent.

The BOK has continued to stand