South Korea's central bank left its policy rate steady, as expected, at its...
SEOUL - South Korea’s central bank left its policy rate steady, as expected, at its last meeting of the year on Friday, taking time out to assess the effects of its recent easings on an economy hit hard by the Sino-U.S. trade war and cooling global demand.
Governor Lee Ju-yeol is due to hold a news conference at 0220 GMT, when he is expected to disclose how the policy panel voted and give the central bank’s revised 2019-2020 economic growth and inflation forecasts. While predicting the rate would be left unchanged at Friday’s meeting, 11 out of the 14 economists surveyed by Reuters saw the Bank of Korea cutting the rate next year to 1.0% or lower, which would be the lowest since it adopted the current policy system in 1999.
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