Bank of Korea keeps rate at record-low 2 percent

South Korea's central bank has left its key interest rate at a record low for a 15th straight month amid expectations the country's economy will rebound strongly in 2010.

The Bank of Korea announced Wednesday that it kept the benchmark seven-day repurchase rate at 2 percent.

The BOK slashed the rate six times from October 2008 to battle the global financial meltdown and economic downturn. It lowered the borrowing cost to its current level in February of 2009.

Asia's fourth-largest economy has recorded five straight quarters of growth after contracting amid the global financial crisis.

The BOK expects South Korea's economy to expand 5.2 percent in 2010 compared with growth of 0.2 percent last year.