The Central Bank of South Korea decided to keep interest rates steady at 2.00% for the eighth consecutive month. The bank cut the nation's benchmark by 3.25% between October and February to stimulate economic growth amid deteriorating conditions around the globe.

The South Korean economy expanded by 2.6% in the second quarter of this year that was the fastest pace in six years, backed by low interest rates and the government's spending. On the other hand, the benchmark was kept at a record low to stop the won's value from further gains as it continued to rally in the last period affecting the nation's shipments badly.