South Korea’s central bank holds key interest rate unchanged

South Korea’s central bank kept its key interest rate unchanged on Thursday, a move aimed at maintaining financial stability amid ongoing concerns over rising property prices and mounting household debt.

Yonhap News Agency reported that the bank’s monetary policy committee held its key interest rate steady at 2.5 percent during its rate-setting meeting in Seoul.

The bank had cut its benchmark interest rate by 25 basis points in May in an effort to support economic growth amid slowing domestic demand and continued uncertainty stemming from the sweeping tariff measures announced by the United States.