SEOUL, Aug. 26 (Korea Bizwire) — More than eight out of 10 bond traders expect the central bank to keep its policy rate steady this week amid housing market instability and increased volatility in the foreign exchange market, a survey showed Tuesday. According to the survey conducted by the Korea Financial Investment Association last week, [...]
SEOUL, Aug. 11 (Korea Bizwire) — Seoul’s central bank said Monday it has signed a renewed memorandum of understanding (MOU) with its Vietnamese counterpart, the State Bank of Vietnam, to promote bilateral partnership. The updated MOU, initially signed in 2004, aims to deepen cooperation in various areas between the two central banks, including monetary policy [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s central bank said Thursday it will sell up to 8 trillion won (US$5.83 billion) worth of monetary stabilization bonds (MSBs) next month. The planned issuance represents an 800 billion-won increase from a month earlier, according to the Bank of Korea (BOK). As policy tools devised to absorb [...]
SEOUL, June 26 (Korea Bizwire) — South Korea’s central bank said Thursday it will sell up to 7.2 trillion won (US$5.31 billion) worth of monetary stabilization bonds (MSBs) in July. The planned issuance represents a 600 billion-won increase from a month earlier, according to the Bank of Korea (BOK). As policy tools devised to absorb [...]
SEOUL, June 18 (Korea Bizwire) – Essential living costs in South Korea are significantly higher than those in other major nations, hindering the recovery of consumer spending, the central bank said Wednesday. South Korea’s price indices for food, clothing and housing stood at 151, 161 and 123, respectively, based on the average price level of [...]
SEOUL, June 12 (Korea Bizwire) — South Korea’s top central banker on Wednesday emphasized the urgent need for economic stimulus to support recovery but warned of “serious side effects” if the government relies too heavily on such measures. Bank of Korea (BOK) Gov. Rhee Chang-yong made the remarks during a speech at a ceremony marking [...]
SEOUL, May 6 (Korea Bizwire) — Volatility in the foreign exchange (FX) market will likely persist for some time amid uncertainties in the global economy and domestic politics, South Korea’s top central banker said Tuesday, while reiterating the need for monetary easing to boost the local economy. “It is still too early to say whether [...]
SEOUL, May 1 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong plans to attend the annual meeting of the Asian Development Bank (ADB) and gatherings of ASEAN finance ministers and central bank governors in Milan next week to discuss global economic conditions and other major financial issues, his office said Thursday. Rhee is [...]
SEOUL, April 18 (Korea Bizwire) — South Korea’s top central banker will attend meetings of the Group of 20 (G20) finance ministers and central bank chiefs, as well as the International Monetary Fund–World Bank Group (IMF-WBG) meetings, to be held in the United States, his office said Friday. Bank of Korea (BOK) Gov. Rhee Chang-yong [...]
SEOUL, March 21 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong on Friday called for reforming South Korea’s college entrance system in order to nurture talents capable of leading innovations. Rhee made the point during the opening ceremony of a research institute on population and talent issues at Yonsei University in Seoul. “Leading [...]