FX.co ★ South Korea Keeps Key Rate Unchanged for 4th Meeting

The Bank of Korea decided to keep its base interest rate steady at 2.50% for the fourth consecutive meeting in November. This decision aims to stabilize the financial environment amidst ongoing concerns about the broader economic landscape, including a sustained downturn in the property market and currency volatility. On the inflation front, there was a slight uptick in price pressures, with headline inflation climbing to 2.4% year-over-year in October. This marks the highest inflation rate since July 2024, surpassing the central bank's target of 2%. Additionally, the GDP for the third quarter grew by 1.2% from the previous quarter, representing the most robust expansion in over a year.