Martes, 20 Noviembre, 2018

South Korea Rate Decision Due On Thursday

Bank of Korea Governor Lee Ju-yeol said the bank was forecasting a 2.8 percent rise in gross domestic growthMore Bank of Korea Governor Lee Ju-yeol said the bank was forecasting a 2.8 percent rise in gross domestic growthMore
Irune Rengel | 13 Julio, 2017, 10:51

Pressures rose on the BOK to raise its policy rate as the US Federal Reserve hiked its benchmark rate to a range of 1.00-1.25 per cent last month.

Bank of Korea Gov.

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Governor Lee Ju-yeol and six other monetary policy board members chose to put the seven-day repurchase on hold at 1.25 per cent.

Lee added the revised growth forecast did not reflect the state-sponsored 11.2 trillion won ($9.86 billion) supplementary budget, which he expects would help improve the "quality of economy" such as employment, if passed by the parliament.

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On the decision to freeze the rate, the robust growth in macroeconomics at home and overseas was offset by uncertainties such as the geopolitical risks surrounding North Korea, global trade protectionism, as well as possible change in global central banks' monetary policies, Lee said.

Bank of Korea Governor Lee Ju-yeol said the bank was forecasting a 2.8 per cent rise in gross domestic growth (GDP), from its earlier projection of 2.6 per cent made in April.

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New Zealand will release food price numbers for June; in May, prices were up 1.6 percent on month and 3.1 percent on year.

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