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2010.12.0820:20:00UTC+00Bank Of Korea Keeps Rates Unchanged At 2.50%

The members of the Bank of Korea monetary policy board on Thursday voted to hold interest rates at the current level of 2.50 percent in line with forecasts.

The bank was widely expected to keep rates unchanged to help soothe investors, particularly in light of the geopolitical tensions on the Korean peninsula and the lingering debt concerns in Europe.

Before raising rates by 25 basis points at the previous meeting on November 15, the bank had left rates unchanged since it unexpectedly raised rates by 25 basis points from the record low of 2.00 percent on July 9.

Before that, the rate had held steady for 16 straight months, after the bank had trimmed rates six times in the previous four months.

Copyright(c) 2010 News.com, Inc. All Rights Reserved

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