BOK holds key rate steady at 3% after 2 consecutive rate hikes

What happened: The Bank of Korea held its benchmark interest rate steady at 3 percent on Thursday, after two consecutive rate hikes in July and August. Key numbers: Key rate held at 3 percent. Two consecutive hikes preceded the freeze, the first back-to-back hikes since January 2023. Why it matters: The decision was widely anticipated. The earlier hikes were described as preemptive action to curb inflationary pressure and ensure macroeconomic stability amid Middle East tensions and robust exports.

The Bank of Korea held its benchmark interest rate steady at 3 percent on Thursday, after two consecutive rate hikes in July and August.

The decision was widely anticipated. The earlier hikes were described as preemptive action to curb inflationary pressure and ensure macroeconomic stability amid Middle East tensions and robust exports.