Bank of Korea stands pat for second straight time, as expected

SEOUL - South Korea's central bank on Tuesday held interest rates steady for a second consecutive meeting, as expected, saying inflation remained the prime policy target even as economic growth would likely miss its projection. The Bank of Korea said its seven-member monetary policy board voted to keep the base rate unchanged at 3.5 percent, as it did on Feb. 23. It said in a statement economic growth this year would slow to further below its earlier projection of 1.6 percent from last year's 2.6 percent, but added its monetary policy stance would remain on a tightening bias as inflation remained far above its target. Local markets showed a muted reaction as investors waited Gov...Keep on reading: Bank of Korea stands pat for second straight time, as expected

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