South Korea's central bank Thursday froze the key interest rate at a record low 2.0 percent for a 13th month.

The Bank of Korea left the benchmark seven-day repo rate unchanged after the final rate-setting meeting of its governor, Lee Seong-Tae, whose four-year term ends this month.

The bank had come under political pressure to keep the rate unchanged.

Finance Minister Yoon Jeung-Hyun said Monday it was not the right time for an increase. "The private sector is not riding on a full-scale recovery and conditions in the job market are serious," he said.