SEOUL (AFP) -- South Korea's central bank left its key interest rate unchanged at 4.5 percent for a fourth consecutive month in a move widely seen to help boost the economy.

The Bank of Korea said its monetary policy committee decided to keep its call rate target for December on hold. The rate has been same since it was raised a quarter percentage point in August.

The decision came as the country's exports-driven economy fell under pressure from the won's rise. The won's rally usually hurts Korean exporters by making their products more expensive on global markets.

The bank on Tuesday lowered the country's economic growth target for next year from 5.0 to 4.4 percent amid sluggish private consumption and investment.

"Despite such risk factors, the economy is expected to post a resilient recovery next year," Central bank chief Lee Seong-Tae told journalists.

The won closed at 916.4 to the dollar on Wednesday, its highest since September 1997. The won's rally was mainly driven by the global weakness of the U.S. dollar and fears of a rate hike in Japan.

Finance and Economy Minister Kwon O-Kyu said Thursday his ministry was "closely monitoring the won's excessive rise" against the U.S. dollar.

South Korea's central bank on November 23 ordered banks to raise reserves for the first time in almost 17 years in a bid to curb soaring housing prices.

Economic officials and experts have warned that a greater-than-expected economic slowdown could lead to a sudden collapse of housing prices, triggering a financial crisis.