The Bank of Korea (BOK) in Seoul on December 28, 2024.
Kim Jae Hwan | Rocket Lite | Getty Images
South Korea's central bank on Thursday kept its benchmark interest rate at 3% in a surprise move, after making two successive cuts at its previous meetings amid a slowing economy.
Economists polled by Reuters had estimated a cut of 25 basis points.
South Korea Cosby The Kosdaq Small-Cap Index rose 1.25% after the decision, while the Kosdaq Small-Cap Index rose 1.69%. The South Korean won rose by about 0.3% to trade at 1450.27.
The BOK's move comes amid political turmoil in the country, with the arrest of ousted President Yoon Suk-yeol on Wednesday, the first for a South Korean president in office.
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