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BOK Chief: US Fed's Rate Freeze 'Not Significantly Against Expectations'

Written: 2019-05-02 15:02:33Updated: 2019-05-02 16:04:17

BOK Chief: US Fed's Rate Freeze 'Not Significantly Against Expectations'

Photo : YONHAP News

South Korea's central bank chief said that the U.S. Federal Reserve's decision to leave its benchmark rate unchanged was in line with expectations.

In Fiji to attend an annual meeting of financial authorities from South Korea, China, Japan and the Association of Southeast Asian Nations, Bank of Korea(BOK) Governor Lee Ju-yeol told reporters on Thursday that the Fed's decision was "not significantly against expectations."

On Wednesday, the Fed froze the rate at a range of two-point-25 percent to two-point-five percent, while hinting at no rate hikes or cuts in the near future.

Last month, the BOK left its key rate steady at one-point-75 percent for the fifth straight month, after raising it by a quarter percentage point last November.

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