Every week we expect many interesting events that can shake the market.
Bank of Korea stays on hold amid weak inflation and ascending won
South Korea's key financial institution is widely anticipated to keep its benchmark interest rate intact on Thursday having raised it in November for the first time for more than six years, as a Reuters survey disclosed on Tuesday.
All 17 market experts polled by Reuters during the period January 8- January 15 forecast that the Bank of Korea would keep its benchmark interest rate intact at 1.50% as it closely watches the effects of its November move that was considered to be a potential turning point for tighter monetary policy in the area.
The BOK isn’t supposed to start this year with another interest rate lift having increased the rate from a record-minimum 1.25% on November 30, concluding a five-year easing marathon as a sustained export boom lifts surge.
Notwithstanding the Bank of Korea rate lift, the overall economic position turns to be mixed. As a matter of fact, December inflation hit 1.5%, which is below the BOK's objective of 25, while November factory output rebounded having contracted last month.
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A new week means new trading opportunities! Here are some events that can fluctuate the market actively…
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.