South Korean Shares Rise After BOK Rate Hold; Yuhan Gains on FDA Approval

MT Newswires Live08-22

South Korean Shares Rise After BOK Rate Hold; Yuhan Gains on FDA Approval South Korean shares closed higher on Thursday after the Bank of Korea held its key rate steady for the 13th time in a row and ...

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The Kosdaq fell 6.4 points, or 0.82%, to 773.47.In economic news, the Bank of Korea held interest rates steady at 3.5% at its August monetary policy meeting for the 13th straight time but hinted at a possible rate cut in October as inflation and growth slowed.The South Korean central bank's decision was in line with the expectations of 38 out of 40 economists surveyed by Reuters.The bank lowered its prediction for both growth and inflation. The growth forecast for this year was downgraded to 2.4% from its May projection of 2.5%, while consumer inflation growth expectations were lowered to 2.5% for the year from 2.6% previously.Inflation in 2025 is projected to match the earlier forecast of 2.1%. 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