Arab Today, arab today s korea keeps key interest rate unchanged
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

S. Korea keeps key interest rate unchanged

Arab Today, arab today

Arab Today, arab today S. Korea keeps key interest rate unchanged

Seoul - AFP

South Korea\'s central bank Thursday kept the key interest rate unchanged for the second straight month as global economic uncertainties overwhelmed inflation woes. The Bank of Korea (BOK) held steady the benchmark seven-day repo rate, the rate at which the central bank lends to commercial banks, at 3.25 percent for August. \"In the coming months, the Korean economy appears on track for steady growth,\" it said in a statement. \"However, the downside risk to growth is likely to increase due mostly to the momentum of recoveries in the US and other major countries slowing, and to signs of sovereign debt problems in the euro area spreading,\" it said. On a year-on-year basis, most demand and production indicators, apart from construction investment, maintained upward trends. \"Although international commodity prices are seen to show downward movements, the high rising trend of consumer prices is forecast to persist owing chiefly to the rise in prices of agricultural products and demand side pressures,\" the bank said. Analysts said fears of a US economic downturn and Europe\'s debt woes prevented the central bank from hiking the rate despite this mounting inflationary pressure. Consumer prices rose 4.7 percent in July from a year earlier, quickening from 4.4 percent growth in June. \"Last week\'s US credit rating downgrade and jitters in global financial markets seemed to warrant a rate freeze this month,\" Ma Ju-ok, an economist at Kiwoom Securities Co, said before the decision. \"It may be difficult for the key rate to reach beyond 3.5 percent by year-end,\" he told Yonhap news agency. Yum Sang-Hoon, an analyst at SK Securities Co., said global economic jitters warranted a rate freeze. \"If this situation is prolonged, consumer spending will slow and commodity prices could fall. Then policymakers\' focus will be placed more on the economy than inflation,\" he said, adding no rate change is expected for the remainder of this year. Shin Dong-Jun, a fixed-income analyst at Dongbu Securities Co, said growing economic uncertainties are raising downside risks. \"An economic slowdown and a fall in oil prices would ease inflationary pressure, so the BOK is likely to freeze the key rate through the end of this year,\" Shin said.  

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 s korea keeps key interest rate unchanged Arab Today, arab today s korea keeps key interest rate unchanged

 



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 s korea keeps key interest rate unchanged Arab Today, arab today s korea keeps key interest rate unchanged

 



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: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

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