At its 9 February monetary policy meeting, the Bank of Korea (BoK) kept the Base Rate unchanged at 3.25%, a decision that was in line with market expectations. Monetary officials have refrained from raising rates for eight consecutive months, after last tightening the reins in June 2011. At the current level, however, the policy rate still remains at its highest level since November 2008. In the accompanying statement, the BoK continues to highlight the ?sluggishness? in the performance of major economies, in addition to signs of moderation in emerging markets. However, the Bank believes that the Korean economy ?will gradually return to its long-term trend level going forward, after remaining subdued for some time due mostly to the impact of external risk factors.?
Korea Monetary Policy
Central Bank holds policy rate in February
February 9, 2012
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Korea Economic News
October 25, 2016
The Korean economy slowed down in the third quarter of this year, expanding at the weakest pace in over a year.
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.