July 16, 2020 / 12:45 AM / 24 days ago

S.Korea's c.bank leaves policy rate unchanged, as expected

SEOUL, July 16 (Reuters) - South Korea’s central bank kept its benchmark interest rate steady on Thursday, holding off on more stimulus to help the economy as policymakers keep a lid on red-hot property prices.

The Bank of Korea’s Monetary Policy Board held the benchmark interest rate at the current record low of 0.50%, as expected by all 30 analysts in a Reuters poll.

Thursday’s decision follows a 25 basis point reduction in May, the fourth cut in the current easing cycle.

Governor Lee Ju-yeol will hold a news conference at around 0220 GMT, which will be livestreamed via YouTube. (Reporting by Joori Roh, Cynthia Kim; Editing by Jacqueline Wong)

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