The BOK kept rates steady

By IBTimes Staff Reporter | January 08 2010 1:31 AM

The Bank of Korea decided today to keep interest rates steady at the low record of 2.00% for the 11th straight meeting. The bank said that the benchmark rate will be operated in a way that help to support economic recovery, worth mentioning that the bank cut the benchmark by 3.25% between October 2008 and February 2009.

Sponsorship Link

The Korean economy found its way out from the worst recession since 1930's as exports that account for half of the GDP continued to improve, and the nation's manufacturing output is rebounding. However, President Lee Myung Bak expected gross domestic product to grow more than 5% in 2010.