The Bank of Korea(BOK) held its key interest rate steady at two-point-five percent following a rate-setting meeting.

The central bank announced the decision on Thursday morning following the Monetary Policy Board meeting.

The announcement comes as Seoul’s housing prices continue to rise and amid fluctuations in the won-dollar exchange rate.

It also marks the third consecutive freeze at two-point-five percent following meetings in July, August and October. The bank cut rates by zero-point-25 percentage points in February and May.  

The final Monetary Policy Committee meeting of this year is scheduled for next month.