The Bank of Korea announced on Tuesday (11th) that it will keep interest rates unchanged at 3.50%, which has frozen interest rates twice in a row.
[Financial Channel/Comprehensive Report] The Bank of Korea announced on Tuesday (11th) that it will keep interest rates unchanged at 3.50%, which is in line with outside expectations. The main reason is that inflation seems to be gradually slowing down, and the outside world is concerned about the slowdown in economic growth. Anxiety gradually intensified.
This is also the second time that the Bank of Korea has stood still after keeping interest rates unchanged in February, and the continuous freezing of interest rates has also raised expectations that the Bank of Korea may end its hawkish monetary policy stance.
Please read on...
South Korea's March CPI, which measures inflation, has an annual growth rate of 4.2%, which is the slowest annual growth rate in a year. Although inflation has slowed down, South Korea's economic growth has also shown signs of slowing down, and exports have shrunk sharply.
South Korea experienced a current account deficit in February, which has occurred for two consecutive months, the first time in 11 years. At the same time, South Korea’s exports have declined annually for six consecutive months, mainly due to concerns about the global economic recession and weak demand for semiconductor exports. The global banking crisis, the Korean banking industry is also highly uncertain.
In February, the Bank of Korea lowered South Korea's economic growth forecast for 2023 from 1.7% forecast three months ago to 1.6%.
Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel
Already added friends, thank you
Welcome to 【Free Finance】
Already liked it, thank you.