The Monetary Policy Committee of the Bank of Korea decided today to leave the Base Rate unchanged at 2 . 50 % for the intermeeting period . ( The following is an unofficial English translation of the Monetary Policy Committee statement . ) The Monetary Policy Committee of the Bank of Korea decided today to leave the Base Rate unchanged at 2 . 50 % for the intermeeting period . Based on currently available information , the Committee considers that the economic recovery in the US has been sustained and that the sluggishness of economic activities in the euro area appears to be easing , while the trends of economic growth in emerging market countries , above all China , have shown signs of recovery to some extent . The Committee forecasts that the global economy will sustain its modest recovery going forward , but judges that the heightening of uncertainties surrounding the US government budget bill and debt ceiling increase , and the likelihood of changes in global financial market conditions related to QE tapering by the US Federal Reserve are acting as downside risks to growth . In Korea , the Committee appraises the moderate economic growth to be continuing , with exports showing buoyancy and domestic demand also improving . On the employment front , the scale of increase in the number of persons employed has expanded in line with increases in the 50 - and - above age group and the service sector . The Committee expects that the domestic economy will maintain a negative output gap for a considerable time going forward , although it forecasts that the gap will narrow . Consumer price inflation fell from 1 . 3 % the previous month to 0 . 8 % in September , due mainly to declines in the prices of agricultural and petroleum products , but core inflation excluding agricultural and petroleum product prices rose from 1 . 3 % to 1 . 6 %. The Committee forecasts that , despite increases in some public utility fees , inflation will remain low for the time being , owing primarily to the inflation reducing effects of policies such as free childcare provision and to the downward stabilization of international agricultural prices . As for the housing market , the scale of decline in sales prices in Seoul and its surrounding areas narrowed while the uptrend of those in the rest of the country continued . The increase in leasehold - deposit prices in Seoul and its surrounding areas meanwhile accelerated , and the uptrend in these prices in the rest of the country continued . The domestic financial markets have shown generally stable movements , due in large part to the scale of QE in the US remaining unchanged . Stock prices have risen substantially and the Korean won has appreciated , driven mainly by net inflows of foreigners ’ stock investment funds . Long - term market interest rates have fallen slightly in line with those in major economies . Looking ahead , while paying close attention to developments in and the influences of external risk factors , and monitoring the effects of the Base Rate cut and of the government ’ s economic policies including the supplementary budget , the Committee will conduct monetary policy so as to keep consumer price inflation within the inflation target range over a medium - term horizon while ensuring that the growth potential is not eroded due to the continuation of slow growth . [ Source : The Bank of Korea ] [ 매일경제 모바일 서비스 | 페이스북 ] [ 매일 경제 구독 신청 ] [ 오늘 의 매일 경제 ] [ ⓒ Maeil Business Newspaper & mk . co . kr , All rights reserved ]