The main Kospi bourse climbed 17.52 points, or 0.64 percent, to 2,742.14, rebounding from a 1.03 percent drop the previous session ahead of a rate decision by the U.S. Federal Reserve.
Finance Minister Choi Sang-mok urged financial authorities to carefully monitor and prepare responses to the rate decisions by both the U.S. Federal Reserve and the Bank of Japan.
The central bank voted unanimously to keep the rate at 3.50 percent while indicating that a cut is unlikely in the first half of the year.
Korea’s finance minister pledged to stay vigilant on growing uncertainties in the country’s economy and financial markets as the timing of interest rate cuts in key countries remains uncertain.
Korea's central bank will maintain its current monitory tightening stance despite the U.S. Fed pivoting toward lower interest rates.
Monetary tightening can cause immediate pain. But a loose policy can prompt a bigger hardship down the road.
The Federal Reserve has voted unanimously to keep its policy rates unchanged, easing market fears of a potential price hike.
The Bank of Korea (BOK) kept the rate unchanged at 3.50 percent on Thursday for the sixth straight meeting.
Global oil prices edged down slightly on Tuesday after gaining more than four percent in the previous session over fears of the impact of the weekend attack on Israel by Hamas, with some concern it could drive up inflation.
Fiscal integrity must not be compromised during the budgetary review process.
Korea JoongAng Daily Sitemap