Arab Today, arab today bok likely to freeze key rate for fifth month in october
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

BOK likely to freeze key rate for fifth month in October

Arab Today, arab today

Arab Today, arab today BOK likely to freeze key rate for fifth month in October

Seoul - Yonhap

South Korea\'s central bank is widely expected to freeze the key interest rate for the fifth straight month in October amid downside risks from a partial U.S. government shutdown and debt ceiling talks, a poll showed Monday. All 16 analysts forecast that the Bank of Korea (BOK) will freeze the benchmark seven-day repo rate at 2.5 percent on Thursday, according to the survey by Yonhap Infomax, the financial news arm of Yonhap News Agency. Analysts said that the BOK is likely to take a wait-and-see stance as Asia\'s fourth-largest economy faces lingering external uncertainty while the local economy has not yet shown a sustained recovery. \"There is growing external uncertainty such as impacts from the partial U.S. government shutdown and looming deadline over the U.S. debt ceiling,\" said Lim Noh-joong, an economist at IM Investment & Securities Co. \"Korea\'s growth momentum is not yet strong and inflation pressure is low, which would make the BOK change its policy course.\" The U.S. government\'s shutdown and Congressional deadlock over a deal to raise the U.S. debt limit are stoking some concerns over their negative impacts on the nascent recovery of the world\'s largest economy. The Korean government said that the immediate impact of the U.S. government\'s temporary shutdown is not likely to be significant on the Korean market, but it said it will keep close tabs on any developments as a prolonged impasse could increase market volatility. On the home front, the Korean economy is on a recovery track, but its growth momentum is not seen as sustainable because domestic demand still remains weak, experts say. On Thursday, the BOK will also unveil its revised growth forecast for 2013 and 2014. The central bank\'s 2013 and 2014 growth estimates stood at 2.8 percent and 4 percent, respectively. Korea\'s inflationary pressure remains subdued as the consumer prices are running below the BOK\'s 2.5-3.5 percent inflation target band. Korea\'s consumer inflation grew 0.8 percent in September from a year earlier, the slowest pace in 14 years, due to falls in prices of farm products. Experts in the poll said that the BOK will likely stand pat on the benchmark rate for a considerable period of time and the bank\'s next move would be a rate hike. \"The BOK may begin to consider changing its monetary policy direction in the first half of next year when the Federal Reserve ends its bond-buying stimulus program,\" said Yoon Yeo-sam, a fixed-income analyst at KDB Daewoo Securities Co. The Fed surprised the market in September by delaying tapering its US$85 billion monthly bond purchases. Fed Chairman Ben Bernanke said in June that the U.S. central bank could start dialing back its bond purchases later this year and possibly end them by mid-2014.

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 likely to freeze key rate for fifth month in october Arab Today, arab today bok likely to freeze key rate for fifth month in october

 



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 likely to freeze key rate for fifth month in october Arab Today, arab today bok likely to freeze key rate for fifth month in october

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
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 Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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