War, weak growth, and policy uncertainty around Trump’s return already threaten the Korean economy. An extended political crisis will make things worse.
South Korea’s central bank freezes rates amid weakened economy and political turmoil
Bank of Korea holds key rate unchanged
Bank of Korea Surprises by Holding Rates Steady As Uncertainty Lingers -- Update
The surprise decision came as South Korea's trade-dependent economy faces challenges from weakening export growth and a sluggish recovery in domestic demand, partly hindered by political turmoil following impeached President Yoon Suk Yeol's short-lived declaration of martial law in December.
South Korea's central bank Thursday held its benchmark policy rate at 3% in a surprise move, opting to assess changes in domestic and external economic conditions after having delivered two back-to-back cuts in its previous meetings.
South Korea's acting President Choi Sang-mok said on Friday the government will make an all-out effort to stabilise the economy and will monitor financial markets around the clock to act if needed.
Outlook: Investors are still not pricing in enough risks in emerging markets from the fallout of a new US-China trade war, writes Manik Narain of UBS. We have a busy day ahead with data releases and Wall Street earnings:
Speaking at the post-policy meeting press conference, Bank of Korea (BoK) Governor Rhee Chang-yong said that “Thursday's rate decision was not unanimous.” Additional takeaways
Explore what to expect with the KOSPI 200 index after the latest Bank of Korea interest rate decision in which officials left rates intact
The BoK's choice to hold rates steady appears to be an effort to stabilize the South Korean won, which has recently plummeted to a 15-year low against the U.S. dollar, exacerbating economic uncertainties.
Asian stocks saw small gains while the dollar steadied as traders awaited US inflation data for clues on the path of Federal Reserve policy.
Asian stocks climbed following a tepid US session as traders awaited key inflation data that may shed light on the path of Federal Reserve rates over the coming months.
Asian stocks climbed following a tepid US session as traders awaited key inflation data that may shed light on the path of Federal Reserve rates over the coming months.
IST, the barometer index, the S&P BSE Sensex, rose 336.78 points or 0.44% to 77,060.86. The Nifty 50 index added 108.90 points or 0.47% to 23,322.10.
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