Bank of Korea holds rates as expected after back-to-back hikes

South Korea’s central bank kept its benchmark rate at 3.00% on Thursday, Business Recorder reported, following two consecutive quarter-point increases in July and August. The seven-member monetary policy board voted to leave the seven-day repurchase rate at the same level.

The decision matched expectations: all 34 analysts surveyed by Reuters had forecast no change. Governor Shin Hyun Song was scheduled to speak at a news conference at 0210 GMT, while the report also noted that South Korean shares had fallen nearly 3% as concerns about artificial intelligence weighed on chipmakers. The rate decision concerns South Korea and does not identify a direct effect on any Pakistani listed company.