Bloomberg, (11/4) -- The Bank of Korea held
borrowing costs unchanged for a sixth month, resisting pressure from the
government for a reduction even as North Korean threats of war undermine
confidence.
Governor Kim Choong Soo and his board kept the benchmark seven-day repurchase rate at 2.75 percent, the central bank said in a statement in Seoul today. Nine of 20 economists surveyed by Bloomberg News predicted the move while the remainder forecast a 25-basis-point cut. President Park Geun Hye is preparing to roll out fiscal stimulus after the finance ministry said yesterday that any prolonged geopolitical risks may exacerbate weakness in economic-growth momentum. While South Korea is wrestling with elevated household debt, a stagnant property market and weakness in the yen that helps competitors in Japan, Kim said last month that interest rates are already “accommodative.” |
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 8:43 AM
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