SEOUL, April 26 (Korea Bizwire) — South Korea’s rate hike measures have weighed heavily on people’s spending, particularly impacting those in their 20s and 30s who have debt, a state-run think tank said Wednesday. A 1 percentage-point hike in the key rate led to a decrease of 132,000 won (US$98.7) in annual spending of South [...]
SEOUL, Nov. 9 (Korea Bizwire) — South Korea and other major economies should stop a string of interest rate hikes to fight inflation, as the extended monetary tightening would exacerbate recession risks, a U.S. expert said Wednesday. Robert Barro, an economics professor at Harvard University, stressed that the central banks around the world, with the [...]
SEOUL, May 4 (Korea Bizwire) — South Korea’s central bank is expected to hike its key interest rate four more times by year’s end considering its hawkish stance shown in the minutes of its latest rate-setting meeting, global investment bank JP Morgan said Wednesday. On Tuesday, the Bank of Korea (BOK) disclosed the minutes of [...]