During Asian deals on Thursday, the South Korean won strengthened to 13.3795 against the Japanese yen. This may be compared to Wednesday's closing value of 13.5295. On the upside, 13.25 is seen as the next target level for the Korean currency.
As expected, the Bank of Korea decided to leave interest rates unchanged at a record low of 2% today. In its March meeting also, the central bank held its rates steady. But the bank had trimmed rates by 50 basis points to 2 percent in February, marking the sixth rate cut in the previous four months.
Consumer price inflation has been decelerating thanks to the stable movements of international oil prices coupled with the easing of demand-pull pressures owing to the economic downturn and this trend seems set to continue for some time, the central bank said in a statement accompanying the rate decision. In the real estate market, prices and transaction volumes have continued to decline.
For comments and feedback: contact firstname.lastname@example.org