Arab Today, arab today bok keeps rates on hold as economy bottoms out
Last Updated : GMT 22:25:26
Arab Today, arab today
Arab Today, arab today

BOK keeps rates on hold as economy bottoms out

Arab Today, arab today

Arab Today, arab today BOK keeps rates on hold as economy bottoms out

Seoul - XINHUA

Bank of Korea (BOK), South Korea\'s central bank, kept its benchmark interest rate on hold at 2.75 percent on Friday as the economy showed signs of bottoming out seen in the recently released economic indicators. Governor Kim Choong-soo and the monetary policy board members decided to leave the 7-day repo rate unchanged at 2.75 percent at the first rate-setting meeting of 2013. The BOK resumed its monetary easing cycle by lowering the borrowing costs by 25 bps in July and October each, before maintaining a wait-and-see stance for three straight months. The January policy decision was in line with market consensus as most experts predicted the rate freeze, citing positive economic data related to production and domestic demand, headline inflation staying at a low level and the expected fiscal stimulus in the first half. Economic indicators unveiled in the past month confirmed the South Korean economy bottomed out in the third quarter. Production in the mining and manufacturing sectors expanded 2.3 percent on- month in November after the mild gains of 0.7 percent in September and October. \"The gradual recovery in exports has positively affected industrial production, supporting our view that exports were likely a key driver of the recovery in industrial output and GDP growth in the fourth quarter of 2012,\" said Oh Suktae, an economist at Standard Chartered in Seoul. Growth in the export-oriented electronics sector accelerated to 6.6 percent in November on a monthly basis from 4.3 percent in October led by semiconductor and display panel sectors. Auto production grew 1.3 percent over the same period, rising for the third consecutive month. Domestic demand also showed stable performance. Sales of consumer goods expanded 2.3 percent on-month in November thanks to the boost apparel sales due to cold weather. Production in the service industry increased 0.8 percent in November from a month before. Exports, which account for more than half of the Asia\'s No. 4 economy, plunged 5.3 percent on-year in December, but the sharp fall was attributable to fewer working days stemming from the presidential election and Christmas occurring on a weekday. \"Workday-adjusted export growth actually gained a solid 7.6 percent on-year in December. Our monthly Korea GDP tracker suggests that GDP growth is bottoming out, supported by exports,\" said Kwon Young-sun, an economist at Nomura International in Hong Kong.

arabstoday
arabstoday

GMT 18:53 2017 Wednesday ,20 September

Dollar exchange rate stable at major banks

GMT 21:04 2017 Monday ,18 September

Dollar exchange rate stable at major banks

GMT 19:07 2017 Monday ,18 September

Inflation slump to hit in early 2018: ECB

GMT 20:35 2017 Sunday ,17 September

Dollar exchange rate stable at major banks

GMT 05:53 2017 Saturday ,16 September

ECB fines rescued Italian bank 11.2 mln euros

GMT 11:43 2017 Tuesday ,12 September

US sues ex-Deutsche Bank exec for securities fraud
Arab Today, arab today
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 keeps rates on hold as economy bottoms out Arab Today, arab today bok keeps rates on hold as economy bottoms out

 



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 keeps rates on hold as economy bottoms out Arab Today, arab today bok keeps rates on hold as economy bottoms out

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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