At its 13 September monetary policy meeting, the Bank of Korea (BoK) left the Base Rate unchanged at 3.00%, as monetary authorities continue to evaluate the latest developments on the European debt crisis. The decision surprised the market, which had expected the Bank to add further stimulus to buttress economic activity amid slumping exports and slowing domestic demand. In the accompanying statement, the BoK referred to the deepening of the Euro area crisis, in addition to signs of moderation in emerging markets and a weak recovery in the United States. Against this backdrop, the Bank reiterated that "the negative output gap in the domestic economy will be sustained for a considerable time going forward, due mostly to the prolongation of the euro area fiscal crisis and to the sluggishness of the global economy".
Korea Monetary Policy
Central Bank keeps rate on hold dashing hopes for stimulus
September 13, 2012
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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
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.
September 30, 2016
Activity in Korea’s manufacturing sector deteriorated significantly in Q3.