SEOUL, South Korea - South Korea's central bank has left its key interest rate unchanged amid accelerating inflation and ongoing global financial market turmoil.
The Bank of Korea said Thursday that it kept the benchmark base rate at 3.25 per cent at a monthly monetary policy committee meeting.
The central bank has raised the borrowing cost five times since July of last year, though has so far been unable to rein in inflation.
South Korea's consumer price index rose 4.7 per cent in July compared with the same month last year after having gained 4.4 per cent in June.
Inflation has exceeded 4 per cent for seven straight months.
South Korean stocks have fallen sharply amid global financial turmoil fanned by worries over the future of the U.S. economy.
