(MENAFN- Qatar News Agency) The Bank of Korea has frozen the benchmark interest rate at 2.5%. The central bank's Monetary Policy Committee, chaired by the bank's governor, Kim Choong-soo, chose to maintain the rate on Thursday for the seventh consecutive month, according to Korea's (KBS WORLD) website. The central bank lowered the rate in May by a quarter percentage point to two-and-a-half percent. In July of last year, the central bank slashed the key rate by a quarter percentage point to three percent and then lowered it to 2.75% three months later. Analysts say the central bank based its decision on its assessment that South Korea's economy is showing stronger signs of recovery.
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