BENGALURU : South Korea's central bank will raise its key interest rate again on Thursday to fight inflation, according to a Reuters poll of economists, but they are divided on how high borrowing costs will be by the year-end.Inflation in South Korea accelerated to an almost 24-year high in July of 6.3 pe
BENGALURU : South Korea's central bank will raise its key interest rate again on Thursday to fight inflation, according to a Reuters poll of economists, but they are divided on how high borrowing costs will be by the year-end.
All but one of the 36 economists polled Aug. 16-22 forecast the Bank of Korea will raise its policy rate by 25 basis points to 2.50 per cent at its Aug. 25 meeting. One expected a 50 basis point hike."With headline inflation accelerating in July and core inflation rising, containing price pressures will remain a top priority, with rate hikes on the cards," noted Krystal Tan, economist at ANZ.
"The BOK was really on the front foot when it came to the need for monetary policy normalisation. So, the fact we are expecting them to slow is really a trend we expect to see from other central banks in our region as well," said Katrina Ell, senior economist at Moody's Analytics. The central bank has raised rates by 175 basis points since August 2021, including by an unprecedented half a percentage point in July.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea, US begin military drills amid N. Korea backlashDrills come as Pyongyang prepares for seventh nuclear test. Read more at straitstimes.com.
Read more »
South Korea, US begin military drills amid North Korea backlashSEOUL: South Korea and the United States began their annual joint military drills on Monday (Aug 22) with a resumption of field training, officials said, as the allies seek to tighten readiness posture over North Korea's potential weapons tests. The summertime exercises, renamed Ulchi Freedom Shield this y
Read more »
Do not be impatient with North Korea: Korea HeraldThe paper says key parts of sanctions must be kept intact until North Korea denuclearises its weapons completely and irreversibly. Read more at straitstimes.com.
Read more »
Relative of New Zealand children found dead in suitcases believed to be in South Korea: PolicePolice said given the relative could be the mother of the kids. Read more at straitstimes.com.
Read more »
Relative of New Zealand children found dead in suitcases believed to be in South Korea: PoliceSEOUL: A woman believed to be a family member of the two children whose remains were found in suitcases in New Zealand is in South Korea, Seoul police said on Monday (Aug 22). The woman, a Korean-bo
Read more »
South Korea's Kurly receives preliminary approval for IPO - Korea ExchangeSEOUL : South Korea's Kurly Inc, which operates online grocery service Market Kurly, received preliminary approval for an initial public offering (IPO), the Korea Exchange said on Monday.
Read more »