Bank of Korea left its policy rate unchanged, USD/KRW shoots higher

Bloomberg News reported that ´´the Bank of Korea left its policy rate unchanged for a third straight meeting and lowered its growth forecast for this year, as officials wait for a sustained cooling of inflation amid increasing signs of slower-than-expected recovery.´

´´The central bank kept its seven-day repurchase rate at 3.5% on Thursday as predicted by all 17 economists surveyed by Bloomberg News. South Korea was among the first central banks globally to pause interest rate hikes three months ago,´´ the news agency said. 

Meanwhile, USD/KRW has rallied:

South Korea’s Kospi was also up, marginally, and the Kosdaq gained 0.27%.