SEOUL, April 13 (Reuters) - South Korea’s central bank kept interest rates unchanged for a 10th straight month on Thursday, wary of geopolitical risks around North Korea and ahead of a much-anticipated U.S. Treasury report on foreign currency policy.
Following are key remarks from Bank of Korea Governor Lee Ju-yeol’s news conference, translated by Reuters:
“The Monetary Policy Board of the Bank of Korea decided today to leave the Base Rate unchanged at 1.25 percent for the intermeeting period.”
“Looking at the real economy, growth has expanded somewhat even though consumption remained weak.”
“The need to cut interest rate has diminished compared with before. But as there is geopolitical risks and other uncertainties, we will keep (monetary policy) accommodative to continue to support the economic recovery.” (Reporting by Cynthia Kim; Editing by Sam Holmes)