31.   Bonds issued by the central bank is using to drain excess liquidity from the system costs the equivalent of seven million dollars daily.

32.   BoK governor Park Seung said the hike was intended to stabilize consumer prices and stem excess liquidity.

33.   Expectations banks would soon cut rates due to excess liquidity helped other sectors to gain, she added.

34.   The statement said the move was aimed at absorbing expected excess liquidity in the banking system arising from the establishment of the funds.

35.   Kosit Panpiemrat said interest rates are expected to fall further due to remaining excess liquidity in the banking system and lack of lending growth.

36.   The central bank planned to issue bonds to absorb excess liquidity, he said.

37.   The central bank said it would maintain a firm-to-loose monetary policy and would conduct open market operations in case of excess liquidity.