(Bloomberg) The Bank of Korea kept its benchmark interest rate on hold while tweaking its guidance to imply it won’t maintain its restrictive stance for a “long” period, inching closer to a neutral stance even as it keeps its options open.Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudApple Plans to Overhaul Entire Mac Line With AI-Focused M4 ChipsUS Slams Strikes on Russia Oil Refineries as Risk to
Nearing the “last mile” of its fight against rising prices, the Bank of Korea held the base rate at 3.5 percent for the 10th consecutive time Friday. The monetary policy board of the central bank decided to maintain the rate through a unanimous vote, keeping the rate steady for more than a year since February 2023, BOK Gov. Rhee Chang-yong said at a press conference held shortly after the rate-setting dec.
(Bloomberg) The Bank of Korea kept its benchmark interest rate on hold while tweaking its guidance to imply it won’t maintain its restrictive stance for a “long” period.Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudApple Plans to Overhaul Entire Mac Line With AI-Focused M4 ChipsUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsRussian Attacks on Ukraine Stoke Fears Army Near Breaking
Korea failed to join the World Government Bond Index, a global benchmark that measures the performance of sovereign bonds, but it remains hopeful as the index provider gave a positive evaluation of its latest efforts to improve market accessibility. The WGBI, managed by Financial Times Stock Exchange Russell, is one of the three major government bond indices along with the Bloomberg-Barclays Global Aggregate Index an.
The Bank of Korea maintained its benchmark interest rate at 3.5 percent on Thursday, amid mounting economic uncertainties provoked by tensions from the conflict between Israel and Hamas militants. The six-member Monetary Policy Board unanimously voted to carry out its sixth rate freeze, keeping the benchmark rate steady since February. “The biggest reason behind the rate hold was the high uncertainties surround.