South Korea's central bank retained its key interest rate for the fifth consecutive meeting and reiterated to keep the policy restrictive.
The Monetary Policy Board of the Bank of Korea, governed by Rhee Chang-yong, decided to leave its policy rate at 3.50 percent.
The policy rate has been raised by a cumulative 300 basis points since August 2021, taking it to the highest level since 2008.
"Looking ahead, the Board deems it warranted to maintain the restrictive policy stance for a considerable time and judge whether the Base Rate needs to be raised further," the bank said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.