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Search resuls for: "Choonsik Yoo Jihoon Lee"


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☆ Bank of Korea raises rates as markets see end of tightening
  + stars: | 2023-01-13 | by ( Choonsik Yoo Jihoon Lee | Choonsik Yoo | Jihoon Lee | ) www.reuters.com   time to read: +2 min
Economists in a Reuters poll had predicted Friday's rate increase would mark the end of a rate-hike cycle that the Bank of Korea's began in late 2021. The Bank of Korea said its seven-member monetary policy board had decided to raise its policy interest rate (KROCRT=ECI) to 3.50%, the highest since late 2008. The interest-rate rise matched a prediction by 36 out of 40 economists in a Reuters poll, in which the remaining four had expected the central bank to hold the rate steady at 3.25%. The decision follows Governor Rhee Chang-yong's remarks this month that the central bank's policy stance would continue to focus on stabilising prices. Like its peers globally, the Bank of Korea is faced with growing pressure to adjust its policy stance as domestic consumer and corporate spending fades and global trade slows.
☆ South Korea Oct exports post worst fall in 26 months, deficit widens
  + stars: | 2022-11-01 | by ( Choonsik Yoo Jihoon Lee | Choonsik Yoo | Jihoon Lee | ) www.reuters.com   time to read: +2 min
SEOUL, Nov 1 (Reuters) - South Korea's exports in October fell the most in 26 months while a trade deficit persisted for a seventh month, underscoring that Asia's fourth-largest economy is slowing and its currency is hovering near 13-year lows. The outlook remains dark as the global economy is losing momentum on a global wave of policy tightening to contain inflation. A survey by S&P Global of purchasing managers at South Korean manufacturing companies also showed new export orders in October fell for an eighth consecutive month as the global economy is slowing. As a result, the country posted a trade deficit of $6.70 billion, bigger than a shortfall of $3.78 billion in September and the seventh consecutive month of imports outweighing exports. Reporting by Choonsik Yoo and Jihoon Lee; Editing by Rashmi Aich and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
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