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Central Bank Board Members See No Need to Raise Key Rate on Low Inflation Pressure

SEOUL, March 20 (Korea Bizwire) – Members of South Korea’s central bank policy board agreed to freeze the key rate last month as inflation pressure remained low and economic growth was moderate, according to minutes from the monetary meeting released Tuesday. The Bank of Korea’s (BOK) monetary policy board meeting on Feb. 27 held the base rate at 1.50 percent for the second time in a row since raising the rate for the first time in more than six years [...]

Household Debt Grows at Fastest Pace in Oct.

SEOUL, Nov. 11 (Korea Bizwire) – Household loans extended by local lenders increased at the fastest clip last month, central bank data showed Wednesday, amid the rising possibility of a looming U.S. rate hike. Outstanding household loans extended by local banks reached 624.8 trillion won (US$539.3 billion) as of the end of October, up 9 [...]

Further Rate Cut Possible, BOK Governor Says

“I do believe there exists the lowest limit for the nominal interest rate, but we cannot say the current rate has reached such a limit. Kore may need to further reduce the key rate depending on how the global economic condition develops in the future.” “I only said the key rate has not reached the [...]