Bank of Korea holds bank rates at 1.5%

BoK kept bank rates unchage at 1.5% as expected this morning. This follows a 25bps cut in June in a pre-emptive move to guard against the economic fallout from Middle East Respiratory Syndrome (MERS). 

Commerzbank says, "We see rates staying on hold till the end of the year as BoK guards against high household debt levels."