South Korea's central bank held its benchmark rate unchanged at 3.5% today

<p>The Bank of Korea held its benchmark policy rate at 3.5%, itsbeen unchanged since the start of the year.
</p><ul><li>The decision today was in line with expectations of surveyed economists, all 43 were expecting no change to the BoK base rate. </li></ul><p>Bank of Korea Governor Rhee comments after the decision:</p><ul><li>
Thursday's rate decision was unanimous</li><li>Household debt
increase in last couple months was faster than expected</li><li>Will manage
household debt with micro measures first</li><li>May consider macro
policy to tackle household debt, but not for now</li><li>6 members wanted to
keep door open for one more hike</li><li>Uncertainty is very high regarding US monetary policy</li><li>Its too early to discuss a rate cut</li><li>Don't want to rule out the possibility of a rate cut within this year</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.