The Federal Reserve has already raised interest rates twice this year.
South Korea major bank keeps interest rate on hold
On Thursday, South Korea's major bank kept interest rates intact, taking rather a bullish view of economic surge prospects because a new administration considers multi-billion-dollar fiscal stimulus measures.
The country’s major financial institution held its base rate intact at 1.25%, exactly as predicted by all 19 financial experts polled by Reuters.
Governor Lee Ju-yeol told that the bank was about to revise up its surge outlook in the nearer months from the current 2.6%, which is a stronger surge trajectory, compared to what had proposed in April.
Market analysts state that considering sturdy exports, economic revival as well as the government's employment-oriented policy stance, in the second half wage surge is supposed to accelerate.
The major bank’s base rate has been intact at a record minimum 1.25% since a 25 basis point drop in June 2016. In April, the bank increased its surge outlook for this year from 2.5% to 2.6%.
On Monday, the US dollar index plunged from 96.40 to 95.70.
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