The Bank of Korea held its benchmark interest rate steady and retained its hawkish bias as it seeks to rein in inflation while also avoiding adding pressure on an economy that faces headwinds ranging from risks of a debt crisis to slumping exports.

The central bank kept its seven-day repurchase rate at 3.5% on Thursday as forecast by all 18 economists surveyed by Bloomberg, and reiterated a pledge to stay restrictive for “a considerable time.” The BOK has stood pat since last raising the rate in January, and Governor Rhee Chang-yong will likely provide details of the board’s discussion when he speaks to the media shortly.

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Bank of Korea Vows to Stay Restrictive As It Holds Rate Steady