Bank The following are some examples of how to use Korea Governor Rhee Chang-yong.

The Bank The following are some examples of how to use Korea The benchmark interest rate was frozen at 3.50 per cent by the Bank of Korea (BOK). July 11 Maintaining its monetary tightening position. Although Recent instability in the won to dollar exchange rate, household loans and the United States If you want to be cautious, keep the policy rate at its current level. The The bank’s decision means that it will closely monitor inflation, financial conditions and growth as well as international developments, before making a pivotal or shifting monetary policy.

The Monetary Policy Board On the morning of, the BOK (MPB) held its second monetary direction meeting of the year. July Starting at 9 a.m., 11th of November. They The benchmark interest rate will remain unchanged at 3.50 per cent per annum. This This is the 12th consecutive freezing since February The 3.50 percent rate has remained unchanged since January Thirteen of the previous years, covering one year, four months and 28 day to date.

FurthermoreThe next MPB meeting is scheduled in August 22. This This would exceed the previous longest period of freeze at one year, five month, and 21 days at 1.25 % June 9 2016, a November 30th, 2017, a record-breaking duration.

Despite In addition to the growing expectations of the market for a rate reduction, the MPB’s decision was also influenced by recent volatility in the exchange rates, household loans and real estate markets.

The In the middle of 2010, the exchange rate between the won and the dollar reached 1,400 won for the very first time in 17 months. MayThe expectation of an early rate cut by the U.S. weakened as a military conflict between Iran You can also find out more about the following: Israel. RecentlyIt has not dropped significantly from the range of 1,380 won.

The BOK is hesitant to reduce the rate because of the rapid growth in household loan, which has been driven by the rise in house prices and housing transactions. Lowering The benchmark interest rate may risk a repeat of the house price boom and the household loan frenzy that occurred around three years back, as characterized by terms such as “yeongggeul,” This literally means to borrow up to the limit or even use your soul as collateral. “bittu,” Borrowing to invest is a way of borrowing.

The U.S. cautious in its approach Federal Reserve On rate cuts, the MPB also supported the decision to keep rates unchanged. Federal Reserve Chair Jerome Powell According to a report of monetary policies submitted by Congress On, July The time in local time is 9: “more indicators showing that the decline in inflation is sustainable are needed before considering a rate cut.”

HoweverRecently, the indicators of domestic inflation, the primary goal of monetary policy have shown positive trends. The Consumer price inflation rate June According to the OECD, core inflation, excluding food, energy and other commodities, dropped to 2.2 percent.

ThereforeMarket participants and experts will be closely watching the MPB’s resolution and BOK for any indications that it may consider a rate reduction. Governor Rhee Chang-yong’s press conference Q&A session.

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