Bank of Korea Governor Lee Ju-yeol says South Korea’s economy is surrounded by many uncertainties both at home and abroad.
 
Lee made the remarks to reporters Thursday shortly after the central bank held its monthly monetary policy meeting and decided to leave the benchmark rate steady at one-and-a-half percent for March.
 
Lee said downside risks have slightly increased with the continued slump in exports and worsened economic sentiment.
 
However, he was quick to add that the sharp rebound of global oil prices and improved economic figures in the U.S. are regarded as positive signs and are expected to help alleviate export conditions and stabilize financial markets.
 
The governor said the current benchmark rate of one-and-a-half percent is sufficiently accommodative, adding that he does not believe the current financial status restricts the real economy.