The Bank of Korea's Monetary Policy Committee holds its first meeting of the year at the central bank in Seoul on Jan. 15, 2021. (Photo: Yonhap News)
The Bank of Korea held its policy rate unchanged at a record low 0.5 percent, as the fallout from a third wave of COVID-19 in South Korea hurt the scope of maintaining an economic recovery.
The BOK's monetary policy board made the widely-expected move Friday, during its first rate-setting meeting of the year.
In a statement, the central bank said it will maintain the easing of monetary policy to prop up the economy, while paying more attention to financial stability.
It added that in the process, "the board will thoroughly assess developments related to COVID-19 as well as the effects of the policy measures taken in response to the pandemic, while paying attention to changes in financial stability conditions such as fund flows to asset markets and household debt growth."
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