Arab Today, arab today bok freezes key rate following july\s rate cut
Last Updated : GMT 18:31:50
Arab Today, arab today
Arab Today, arab today

BOK freezes key rate following July\'s rate cut

Arab Today, arab today

Arab Today, arab today BOK freezes key rate following July\'s rate cut

Seoul - QNA

South Korea's central bank froze the key interest rate on Thursday in a bid to gauge the impact of its surprise rate cut in July on the local economy amid the protracted eurozone debt crisis. As widely expected, Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers held the benchmark 7-day repo rate steady at 3% for August. The move followed the BOK's quarter-percentage point rate reduction in July, the first cut in more than three years, according to South Korea's (Yonhap) News Agency. Analysts said the slowing growth and easing inflationary pressure are likely to give the BOK room to cut the rate further down the road. The decision, which was unanimous, came as exports, one of the main growth drivers of the Korean economy, faltered and annual inflation growth eased to a 12-year low in July, running below the BOK's inflation target band of 2-4%. The rate freeze came as the BOK can now wait and see the impact of monetary easing steps to be taken by the US and Europe before deciding on taking a second rate cut. The protracted eurozone debt crisis and China's slowing economy are blurring the prospects of the Korean economy, which grew a mere 0.4% on-quarter in the second quarter. South Korea's exports dropped 8.8% in July from a year earlier, the sharpest decline since September 2009. Imports fell for the fifth straight month as domestic demand is weakening due to the economic slowdown.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bok freezes key rate following july\s rate cut Arab Today, arab today bok freezes key rate following july\s rate cut

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bok freezes key rate following july\s rate cut Arab Today, arab today bok freezes key rate following july\s rate cut

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday