The Bank of Korea (BOK) kept the policy rates unchanged at 3.50 percent on Thursday for the seventh consecutive meeting.
Korea needs to establish a digital infrastructure and regulatory frameworks for their central bank digital currency (CBDC) projects, says BIS General Manager Agustin Carstens.
Korea's household credit hit a record high in Q3, driven by mortgage and credit card spending, despite high interest rates.
The United States removes Korea from its currency monitoring list, revealing reduced foreign exchange reserves and declining exports.
The Federal Reserve has voted unanimously to keep its policy rates unchanged, easing market fears of a potential price hike.
Korea’s economy grew 0.6 percent in the July-September period from a quarter earlier as consumer spending rebounded centered on dining and accommodations, according to the Bank of Korea’s preliminary data on Thursday.
Bank of Korea Governor Rhee Chang-yong warned that a policy rate increase may be necessary if household debt continues to rise. Despite recent loan regulations, household loans increased by 4.9 trillion won in September.
The Bank of Korea (BOK) kept rates unchanged at 3.50 percent on Thursday for the sixth straight meeting. It was a unanimous decision by the Monetary Policy Board amid increased uncertainties.
The Bank of Korea (BOK) kept the rate unchanged at 3.50 percent on Thursday for the sixth straight meeting.
Thirty foreign financial institutions have expressed their intention to register with Korea's foreign exchange authorities for direct trading in the market, starting from January next year. T
Korea JoongAng Daily Sitemap
