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March 10, 2010, 9:08 p.m. EST · Recommend ·

Bank of Korea stands pat on policy interest rate

Alert Email Print By Myra P. Saefong

TOKYO (MarketWatch) -- The Bank of Korea kept its policy interest rate unchanged at 2% Thursday as the domestic economy "continued on a recovering trend." The decision had been widely expected. But the monetary policy committee also warned that uncertainty over economic growth remains because of "problems of excessive government debt in some countries." Looking ahead, the committee said it will "maintain the accommodative policy stance for the time being in such a way as to help sustain the trend of recovery in economic activity." Following the news, South Korea's Kospi was up 0.2%.

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