The standard interest rate of the Bank of Korea (BOK) has remained 3.25% since June as the US and Europe still remains under the burden of uncertain debt and growth problems.

Monetary Policy Board Members and Governor Kim Choong-Soo had announced the rate to remain unbothered. Earlier the rate had witnessed a 25 basis points (bps) change in June following the same change in March and January.

The rate has been increase five times to the total of 125 bps since last year's July. The inflation in the country has increased by 4% for eight months.

According to BOK, the economy of the country would have witnessed a lot of growth factors but somehow it has been affected by the problems faced by the major economies the US and Europe. The downgrading of the U. S. credit rating by the Standard & Poor's have stopped the BOK to stabilize the rate even it has been experiencing elevated consumer price inflation.

Singapore ING Asia Research Head Tim Condon stated, "Markets are priced for the BOK to remain on hold. The 2008- like turmoil in global financial markets makes a rate cut more likely than a rate hike".