At its 8 June monetary policy meeting, the Bank of Korea (BoK) kept the Base Rate unchanged at 3.25% in a decision that was in line with market expectations. Monetary officials have now remained on hold for a full year, after last tightening the reins in June 2011. At the current level, the policy rate sits at its highest point since November 2008. In the accompanying statement, the BoK continued to highlight the sluggishness in the performance of Euro area economies, in addition to signs of moderation in emerging markets. That said, the Bank believes that the Korean economy
Korea Monetary Policy
Central Bank keeps rate on hold
June 8, 2012
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Korea Monetary Policy Chart
Note: BoK Base Rate in %.
Source: Bank of Korea (BoK).
Korea Economic News
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.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.