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☆ North Korea censored footage of a benign English gardening show because its presenter was wearing jeans
▼ + stars: | 2024-03-27 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

North Korea censored a broadcast featuring the English gardening TV host Alan Titchmarsh. North Korea regards jeans as a symbol of Western imperialism and tries to obscure them in media. AdvertisementNorth Korea censored footage of the TV presenter Alan Titchmarsh to hide the fact that he was wearing jeans. North Korea's Central TV broadcast Titchmarsh's 2010 show "Garden Secrets" recently, but obscured his trousers. This story is available exclusively to Business Insider subscribers.

Persons: Alan Titchmarsh, — Organizations: Service, Korea's Central, Business Locations: Korea, England

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsNov 30 (Reuters) - A look at the day ahead in Asian markets. If this week has so far been strangely listless for Asian markets, that could be about to change suddenly on Thursday as investors brace for a deluge of top-tier economic data and policy events from across the continent. The latest industrial production and retail sales data from both Japan and South Korea are on tap too, all of which could move their respective markets, especially currencies. All else equal, the risks for Asian markets on Thursday may be tilted to the upside, even though stock markets around the world again struggled on Wednesday. South Korea's central bank is expected to keep its base rate on hold at 3.50% and leave it there until at least the middle of next year.

Persons: Kim Hong, That's, Goldman Sachs, Jamie McGeever, Josie Kao Organizations: Korea, South Korean, REUTERS, New Zealand, Bank of Japan, Reserve Bank of New Zealand, Thomson, Reuters Locations: Seoul, South Korea, China, India, Japan, U.S, Korea's, Korea

SEOUL, Oct 26 (Reuters) - South Korea's economy fared better than expected in the third quarter with the expansion underpinned by exports, backing the case for the central bank to keep rates on hold for the months ahead. Government spending grew 0.1%, and construction investment expanded 2.2% after contracting 0.8% in the second quarter. On an annual basis, Asia's fourth-largest economy grew 1.4% in the third quarter, after a 0.9% gain in the second quarter and beating a 1.1% rise expected by economists. South Korea's central bank held interest rates steady for a sixth straight meeting last week, retaining a tightening bias on monetary policy as it warned of inflationary risks from the Israel-Hamas conflict and global oil prices. In a separate Reuters survey conducted early this month, South Korea's economic growth was forecast to slow to 1.2% in 2023 from 2.6% in 2022.

Persons: Ed Davies, Sam Holmes Organizations: Gross, Bank of, Thomson Locations: SEOUL, Bank of Korea, Korea's, Israel

☆ Asia markets poised for weaker open as investors look ahead to China GDP, Japan inflation data
▼ + stars: | 2023-10-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An employee works on the assembly line of LED lighting products in China. Asia-Pacific markets are set for a lower start to the week as investors look ahead to key economic data from China and Japan this week. Japan's September inflation data is expected on Friday, which will come ahead of the country's central bank's monetary policy meeting on Oct. 30 and 31. South Korea's central bank will also announce its rate decision on Thursday. The Bank of Korea has held rates steady for five meetings in a row at 3.5% since February.

Organizations: Reuters, Bank of Locations: China . Asia, Pacific, China, Japan, Korea's, Bank of Korea

☆ S.Korea c.bank says coordinated efforts needed to deal with household debt
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Sept 14 (Reuters) - South Korea's central bank said on Thursday it needs to make coordinated efforts to contain household debt, which is at levels that could undermine economic growth and financial stability. "Unlike in major countries, household debt increased continuously without de-leveraging and has reached a level that hinders macroeconomic and financial stability," the Bank of Korea (BOK) said in its quarterly monetary policy report. South Korea's household borrowing grew for a fifth straight month in August by the biggest amount in two years, driven up by rising mortgage demand, prompting financial authorities to tighten certain loan regulations. The BOK said in the report it was more effective for macro-prudential policy to coordinate with monetary policy than for policy responses to be made in isolation.

Persons: Kim Hong, BOK, Jihoon Lee, Sam Holmes Organizations: Bank of, REUTERS, Rights, Bank of Korea, prudential, Thomson Locations: Bank of Korea, Seoul, South Korea, Rights SEOUL

☆ With Putin and Kim Jong Un set to meet, the West fears what Russia and North Korea are planning
▼ + stars: | 2023-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

Russian President Vladimir Putin, right, and North Korea's leader Kim Jong Un shake hands during their meeting in Vladivostok, Russia, Thursday, April 25, 2019. Alexander Zemlianichenko | Pool | APThe leaders of North Korea and Russia are scheduled to meet this week, with deepening military, economic and geopolitical cooperation on the official agenda. There are also fears about what Moscow might offer the economically isolated and heavily sanctioned North Korea in return. A fire assault drill by North Korean rocket artillery units at an undisclosed location in North Korea in March 2023 in this photo released by North Korea's Korean Central News Agency (KCNA). For their part, Russia and North Korea have both denied claims of alleged arms dealing.

Persons: Vladimir Putin, Kim Jong, Alexander Zemlianichenko, Kim Yong Un, Putin, Pat Ryder, Edward Howell, Kim Jong Un, Kim Ju, Howell, scot, Dmitry Peskov, Kim, Peskov, It's, —, Pyongyang's, Jung Yeon, Victor Cha, Andrius Tursa, Sergei Shoigu's, John Kirby, Wagner, Vladimir Putin grimaces Organizations: White, North, Pentagon, Ukraine, North Korean, Korean Central News Agency, Reuters, UN, North Korea —, Oxford University, CNBC, North Korea's Central News Agency, Kcna, Nuclear Weapons, UN Security Council, Kremlin, Getty, Eastern Economic, U.S, U.S . National Security, Zvezda Shipbuilding, Bolshoi Kamen Locations: Vladivostok, Russia, North Korea, Russian, Korea, Pyongyang, Ukraine, Moscow, Korean, Pakistan, Syria, Libya, North Korea's, London, Washington, Japan, South Korea, U.S, Bolshoi

☆ South Korea July consumer inflation slowest in 25 months
▼ + stars: | 2023-08-01 | by ( Jihoon Lee | ) www.reuters.com time to read: +1 min

An office worker eats his lunch at a convenience store in Seoul, South Korea, June 24, 2022. REUTERS/ Heo Ran/File PhotoSEOUL, Aug 2 (Reuters) - South Korea's consumer inflation cooled for a sixth consecutive month in July and by more than expected, official data showed on Wednesday. The consumer price index stood 2.3% higher in July than a year earlier, after a 2.7% rise in June and compared with a median 2.4% increase forecast in a Reuters survey of economists. It marked the weakest annual increase since June 2021, according to Statistics Korea, and was the second straight month the consumer price data came in lower than market expectations. Core inflation, which excludes volatile food and energy prices, slowed to 3.3% on an annual basis from 3.5% the previous month and hit the slowest rise since April 2022.

Persons: Heo, Jihoon Lee, Ed Davies, Jacqueline Wong Organizations: REUTERS, Statistics, Thomson Locations: Seoul, South Korea, SEOUL, Statistics Korea

☆ S.Korea c.bank warns of financial stability risk as debts rise
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

SEOUL, July 17 (Reuters) - South Korea's central bank said on Monday there was a need to manage financial stability in addition to price risks as the country's high household debts have started to climb. "In terms of monetary policy, it should consider financial stability more actively to prevent excessive leveraging or risky asset investments when monetary policy is loose," the Bank of Korea (BOK) said in a report. "There is a need to discuss introducing a 'prudential monetary policy' with higher consideration on financial stability, in addition to price stability," the central bank said. The central bank said in the report there was limited financial stability risk from household debt, given the low loan-to-value ratio and the high percentage of high-income earners, but it flagged negative long-term implications on growth and inequality. The BOK has kept monetary policy unchanged since its last interest rate hike in January and its tightening campaign, which began in August 2021, is widely expected to be over.

Persons: BOK, Jihoon Lee, Jacqueline Wong Organizations: Bank of Korea, prudential, Bank for International Settlements, Thomson Locations: SEOUL, Switzerland, Australia

The Bank of Korea (BOK) said its seven-member monetary policy board voted to keep the base rate (KROCRT=ECI) unchanged at 3.50%, as it did in meetings in February, April and May. "The Board will maintain a restrictive policy stance for a considerable time with an emphasis on ensuring price stability," the BOK said in a statement. The BOK has kept monetary policy unchanged since its last interest rate hike in January and its tightening campaign, which began in August 2021, is widely expected to be over. The rate stood at 2.7% in June this year, although it is still higher than the central bank's medium-term target of 2%. South Korea's import prices fell in annual terms for a fifth month in June and marked the steepest drop in more than eight years, central bank data showed earlier on Thursday.

Persons: BOK, Governor Rhee Chang, Jihoon Lee, Joyce Lee, Jacqueline Wong Organizations: Bank of Korea, Reuters, Thomson Locations: SEOUL, China

☆ Asia markets set to rise as U.S. inflation rate slows more than expected
▼ + stars: | 2023-07-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set to rise on Thursday after the U.S. inflation rate for June came in lower than expected at 3%, the smallest increase in two years. Month over month, the inflation rate rose 0.2%, less than forecast. In Asia, investors will be looking to China's June trade numbers, as well as the rate decision by South Korea's central bank. Economists polled by Reuters expect the central bank to hold rates at 3.5% for a sixth straight month. Hong Kong's Hang Seng index looks set for a positive open after two straight days of gains, with futures at 19,213 compared to the HSI's last close of 18,860.95.

Persons: Dow Jones Organizations: Reuters, Nikkei Locations: Asia, Pacific, Japan, Chicago, Osaka, Australia, Hong

☆ Morning Bid: Markets bet July 2023 is 'peak Fed'
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanSurprise news of a 2%-plus print on U.S. headline inflation rate for June has world markets betting the peak of the Federal Reserve's interest rate campaign will now be this month. Either way, the latest inflation cheer means U.S. rate futures have wiped out bets of another Fed rate hike after a final quarter-point move to 5.25-5.50% at July 26's meeting. Although they see peak rates held there to year-end, futures now price as much as a full percentage point of cuts by this time in 2024. The VIX "fear index" (.VIX) fell back below 14 to its lowest of the month so far. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, That's, Christopher Waller, Mary Daly, Joe Biden, Christine Lagarde, Toby Chopra Organizations: Fed, Nasdaq, PepsiCo, Delta Airlines, Bank of, Swiss, Bank of Canada, Federal Reserve, San Francisco Fed, Nordic, European Central Bank, . Treasury, Reuters, Thomson Locations: U.S, Beijing, Jackson, Fastenal, Helsinki, Brussels, Japan

☆ Central banks in Asia could soon diverge from the Fed, Nomura says
▼ + stars: | 2023-07-11 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Francois Lochon | Gamma-rapho | Getty ImagesCentral banks in Asia could start cutting rates earlier than the Federal Reserve, economists at Nomura predicted. "Our view of Asian central banks cutting policy rates ahead of the Fed in this cycle is based on the fundamental divergences between Asian and U.S. economies," Nomura economists wrote. China's producer prices have already entered deflation territory, while South Korea's inflation hovered around 2.7%, nearing its central bank's target. Seoul could start cutsNomura expects the Bank of Korea to be one of the first central banks after China to cut rates. They pointed to the central bank's governor Rhee Chang-yong shrugging off investor concerns about a weakening South Korean currency.

Persons: Francois Lochon, Sonal Varma, Nomura, lockdowns, BOK, Rhee Chang, Rhee Organizations: Getty, Federal Reserve, Nomura, Federal, Bank of, CNBC, Korean, U.S Locations: Seoul, South, Asia, U.S, China, sputter, Indonesia, Philippines, India, Korea, Singapore, Bank of Korea

☆ South Korea consumer inflation hits 21-month low
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

SEOUL, July 4 (Reuters) - South Korea's consumer inflation slowed more than expected and hit a 21-month low, official data showed on Tuesday, weighed by falling oil and agricultural product prices. It softened for a fifth consecutive month and marked the weakest annual increase since September 2021, according to Statistics Korea. Core inflation, which excludes volatile food and energy prices, slowed to 3.5% from 3.9% a month before, marking the slowest annual rise since May, 2022. Prices of petroleum products dropped 4.0% over a month and agricultural products fell 0.9%, but public utility prices rose 2.2%. Services prices rose 3.3% from a year earlier, weaker than 3.7% in May and the slowest in 14 months.

Persons: Jihoon Lee, Ed Davies, Sam Holmes Organizations: Statistics, Thomson Locations: SEOUL, Statistics Korea, South Korea's

☆ Bank of Korea sees rapid pace of inflation easing for awhile
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

SEOUL, May 2 (Reuters) - South Korea's central bank said on Tuesday inflation would keep easing at a rapid pace through the middle of this year, although core inflation would ease at a slower pace. Reporting by Choonsik Yoo; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ World stocks hope for Fed pause, dollar stalls
▼ + stars: | 2023-04-11 | by ( Herbert Lash | ) www.reuters.com time to read: +6 min

Gold climbed back up above the key $2,000 per ounce level as the dollar came off Monday's peak, while oil prices rose despite Chinese inflation data pointing to persistently weak demand. Investors are eagerly awaiting U.S. consumer prices data on Wednesday and producer prices on Thursday. The consumer price index is expected to show core inflation rose 0.4% on a monthly basis (USCPF=ECI) and 5.6% year-over-year (USCPFY=ECI) in March, according to a Reuters poll of economists. The dollar fell after a strong U.S. jobs report for March showed a resilient labor market, adding to expectations of another Fed rate hike. The dollar index fell 0.244%, with the euro up 0.41% to $1.0904 and the yen weakening 0.12% at 133.78 per dollar.

The consumer price index is expected to show core inflation rose 0.4% on a monthly basis (USCPF=ECI) and 5.6% year-over-year (USCPFY=ECI) in March. The two-year Treasury yield, which typically moves in step with interest rate expectations, rose 3.5 basis points to 4.043%. "We're just beginning to feel the pain of these much higher interest rates. The dollar fell after a strong U.S. jobs report for March showed a resilient labor market, adding to expectations of another Fed rate hike. The 10-year JGB yield fell to as low as 0.445%, its lowest since April 4, after hovering at 0.465% in the previous session.

☆ World stocks cling to upbeat mood, dollar stalls
▼ + stars: | 2023-04-11 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +5 min

European stocks added 0.5% (.STOXX), U.S. equity futures pointed to a positive Wall Street open , and Japan's blue-chip Nikkei rallied over 1% (.N225). Markets price in a roughly 70% chance of a May hike, having last week priced such a move as a coin toss. Traders still price in rate cuts by year-end as the economic growth outlook weakens, exacerbated by banking turmoil. U.S. March inflation data on Wednesday could provide the next steer for markets on the rate outlook. U.S. Treasury yields edged down on Tuesday, however, , with rate sensitive two-year yields 4 bps lower at 3.96%.

☆ World stocks hold on to upbeat mood, dollar stalls
▼ + stars: | 2023-04-11 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

European stock markets opened broadly firmer (.STOXX), U.S. stock futures pointed to a positive open for Wall Street shares , and Japan's blue-chip Nikkei rallied over 1% (.N225). Friday's non-farm payrolls suggested labour markets remain resilient, boosting expectations for a 25 basis point (bps) U.S. rate increase in May. NEW BOJ CHIEFIn Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.57%, while MSCI's world stock index was up 0.3% (.MIWD00000PUS). U.S. Treasury yields edged down in European trade , with rate sensitive two-year yields last down 3 bps at 3.96%. Brent crude futures rose 61 cents, or 0.74%, to $84.81 a barrel, while U.S. WTI futures gained 68 cents, or 0.83%, to $80.41 a barrel.

☆ Asia stocks rise on hopes regional central banks hold steady on rates
▼ + stars: | 2023-04-11 | by ( Selena Li | ) www.reuters.com time to read: +2 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.6% as trading resumed after a long holiday weekend in many major Asian markets. On Tuesday morning, South Korea's central bank held interest rates steady for a second consecutive meeting, as expected. Hong Kong stocks were tech sector gains, with the benchmark Hang Seng (.HSI) climbing 0.9%. The dollar index edged down by 0.098% to 102.36, while the Japanese yen weakened 0.15% versus the dollar to 133.4. In oil markets, U.S. crude gained 0.6% to $80.19 per barrel while Brent was at $84.65, also up 0.6%.

☆ Bank of Korea holds policy rate steady at 3.50%, as expected
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 11 (Reuters) - South Korea's central bank on Tuesday held interest rates steady for a second consecutive meeting, as expected, faced with conflicting risks from still high inflation, a slowing economy and heightened financial uncertainty. The Bank of Korea said its seven-member monetary policy board voted to keep the base rate (KROCRT=ECI) unchanged at 3.50%, as it did on Feb. 23. The decision was in line with predictions from 39 out of 40 economists surveyed by Reuters, while one respondent had forecast a 25-basis-point hike. It is the first time the Bank of Korea has kept the policy rate steady at successive meetings since it embarked on a tightening campaign in August 2021. Reporting by Choonsik Yoo and Jihoon Lee; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

[1/2] The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. The Bank of Korea said its seven-member monetary policy board voted to keep the base rate (KROCRT=ECI) unchanged at 3.50%, as it did on Feb. 23. Local markets showed a muted reaction as investors waited Governor Rhee Chang-yong's news conference from 0210 GMT. It is the first time the Bank of Korea has kept the policy rate steady at successive meetings since it embarked on a tightening campaign in August 2021. Reporting by Choonsik Yoo and Jihoon Lee; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Glass half full on disinflation
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +4 min

Headline March consumer price inflation is expected to drop as low as 5.2% from 6% - showing the disinflation journey from more than 40-year highs of 9.2% last June to the Fed's 2% target more than half way there. The rider is that headline inflation rates are expected be below stickier annual 'core' rates, which are forecast to have ticked higher to 5.6% last month. The International Monetary Fund's updated World Economic Outlook is also due on Tuesday ahead of the Fund's Spring meeting in Washington. The disinflation picture was encouraged around the world on Tuesday as Chinese consumer price inflation hit an 18-month low last month and the annual decline in factory prices sped up. Hopes that central bank rates are cresting worldwide lifted risk appetite across the spectrum with major cryptocurrency bitcoin broke back above $30,000 level for the first time in 10 months on Tuesday.

☆ South Korea data shows uneven economic recovery, suggests steady rates
▼ + stars: | 2023-03-30 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

SEOUL, March 31 (Reuters) - South Korea's factory output slumped while retail sales jumped in February, data showed on Friday, signalling an uneven economic recovery and bolstering the market's view that the central bank will keep rates on hold for the rest of the year. The industrial output index fell 3.2% in February from the month before after a 2.4% gain in January, while the retail sales index jumped 5.3% month-on-month after a 1.1% drop in January, according to Statistics Korea. South Korea's central bank, which started raising interest rates in August 2021 ahead of most central banks, has raised the policy rate by 300 basis points from just 0.5% but kept it unchanged at its latest meeting in February. Bank of Korea Governor Rhee Chang-yong told reporters after the February decision that the central bank would not resume its rate hikes if inflation continued to moderate. Economists said the robust retail sales data could be temporary given the worsening outlook for exports, which influence a wide range of economic activity in South Korea.

☆ North Korea says missile launches helped train for missions at any time
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

[1/3] View shows a missile fired by the North Korean military at an undisclosed location in this picture released by North Korea's Central News Agency (KCNA) on March 15, 2023. KCNA via REUTERSSEOUL, March 15 (Reuters) - North Korea's latest missile launches were a military drill designed to train crews to carry out their mission at any time and "annihilate the enemy" if necessary, the country's state media KCNA said on Wednesday. North Korea fired the two short-range ballistic missiles into the sea off its east coast on Tuesday, South Korea's military said at the time, the latest of several weapons tests as the South and the United States conduct their largest joint military drills in years. South Korea's military "strongly condemned" North Korea, calling the repeated missile launches a grave provocation threatening the region's peace and security, and a U.S. State Department spokesperson criticised the launches as violation of multiple United Nations Security Council Resolutions. Reporting by Hyunsu Yim and Josh Smith; Editing by Leslie Adler and Stephen CosatesOur Standards: The Thomson Reuters Trust Principles.

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