Arab Today, arab today south korea freezes key rate in surprise decision
Last Updated : GMT 22:04:34
Arab Today, arab today
Arab Today, arab today

South Korea freezes key rate in surprise decision

Arab Today, arab today

Arab Today, arab today South Korea freezes key rate in surprise decision

SEOUL - AFP

South Korea\'s central bank unexpectedly froze the key interest rate Friday for a second month despite inflation pressure, amid continuing economic uncertainty such as the eurozone debt crisis. Bank of Korea governor Kim Choong-Soo and his fellow policymakers kept the benchmark seven-day repo rate at 3 percent for May. Twelve of 14 analysts surveyed by Dow Jones Newswires this week had forecast a 25-basis-point rise. The base rate was increased 25 basis points in March to curb annual inflation, which hit 4.2 percent in April -- above the central bank\'s target range of between two and four percent for a fourth straight month. The bank said it expects consumer prices to keep rising strongly, due mainly to demand-side pressures amid an economic upswing and higher oil prices. In a statement it reiterated its determination to curb inflation, suggesting monetary tightening in the coming months. The central bank said the local economy seems on track for solid growth in coming months, helped by robust exports, but risks remain. \"The unstable oil prices and the fiscal problems of certain European countries will act as major downside risk factors,\" it said. Hyundai Securities economist Lee Sang-Jae said the pause was likely prompted by greater external risks, with some recent data pointing to sluggish US economic growth and increasingly volatile global raw material prices. However, \"this doesn\'t mean that it will refrain from the usual baby steps of raising the policy rate with a pause of one or two months.\" Lee told Dow Jones Newswires exports remain robust and domestic consumption was improving, while inflation would stay above 4 percent for some time. \"Chances for a rate hike are all open for June,\" he said, maintaining his forecast of a 3.75 percent base rate by year-end.

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 south korea freezes key rate in surprise decision Arab Today, arab today south korea freezes key rate in surprise decision

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" 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