By and April 11, 2018, 8:59 PM EDT Updated on April 11, 2018, 10:02 PM EDT The Bank of Korea left its key interest rate unchanged on Thursday, as inflation remains below target and global trade disputes cloud the outlook for its export-dependent economy.The decision to keep the seven-day repurchase rate at 1.5 percent was forecast by all 16 analysts surveyed by Bloomberg. Most predicted the next hike to take place in the second half of the year.The central bank said in a statement that inflation this year would be lower than its previous projection of 1.7 percent, without providing an exact figure. The won weakened, trading at 1,068.55 at 11 a.m. local time.Investors’ focus now turns to guidance later this morning from Governor Lee Ju-yeol, who is set to lead the central bank for another four years, and to the BOK’s updated economic estimates.Korea’s exports have continued to expand, supporting the economic recovery, but inflation was only 1.3 percent in March, far below the BOK’s 2 percent target. In the minutes of the board’s February rate decision, some members expressed doubts about whether inflation could accelerate in the near term.In the updated outlook, the BOK may also reveal how… Read full this story
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