Bank of Korea stays on hold amid weak inflation and ascending won

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.

 

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera