Stock market today: S&P 500 hits fresh record close on stronger economic growth
Investing.com -- The Bank of Korea kept its benchmark interest rate steady at 2.50% on Thursday, a decision that was anticipated by most market analysts.
The central bank’s move was in line with expectations, with 27 out of 35 analysts surveyed by LSEG correctly predicting the hold decision.
Inflation in South Korea appears to be moderating, with headline Consumer Price Index (CPI) rising 2.1% year-over-year in July, just slightly above the Bank of Korea’s 2.0% target. Analysts expect inflation to remain close to this target level through the rest of 2025.
The combination of expected weaker economic growth and subdued energy prices is likely to keep price pressures contained in the coming months, suggesting the central bank may still have room for additional rate cuts in its current easing cycle.
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