Bank of Korea Passes
South Korean monetary policy had been eased aggressively, with six rate cuts totaling 325 basis points and spaced between October 9th and February 12th. Opinion was divided on the likelihood of another reduction today, and officials decided to adopt a wait-and-see approach instead to monitor a little better the impact of the stimulus provided so far. Monetary officials released a statement that
- Identifies increasing downside growth risk,
- Observes a recent uptick of inflation caused by higher import prices and won depreciation,
- Projects renewed ebbing inflation as negative demand-pull pressures dominate pressures related to the won, and
WE RECOMMEND THE VIDEO: How to trade Nasdaq with technical analysis best Forex trading strategies 2021
For opening account for Forex broker use below Get 30 $ welcome bonus Subscribe, share ...
- Proclaims its two main priorities to be promoting growth and stabilizing the financial markets.
Bottom line is that 2.0% is unlikely to be the cyclical floor of the central bank’s benchmark rate.
Copyright 2009 Larry Greenberg. All rights reserved. No secondary distribution without express permission.
This entry was posted on Thursday, March 12th, 2009 at 5:00 pm and is filed under Central Bank Watch. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Comments are closed.
Currency Thoughts has evolved from a blog to a full-functioning website. This new design provides easier access to your favorite features and new capabilities to accept ads. In the future, it will be possible to register to accept emailed updates.