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South Korea poised to kick-start Asia s monetary tightening

5 Min Read SEOUL (Reuters) - South Korea is set to be the first Asian economy to raise interest rates from pandemic-era lows as its hawkish, outgoing central bank governor steps up efforts to stamp out any incipient property bubbles or household debt stress. FILE PHOTO: A man gets on a bicycle in front of the Bank of Korea in Seoul August 9, 2012. REUTERS/Kim Hong-Ji Bank of Korea Lee Ju-yeol surprised financial markets last week, when policy rates were kept at record lows but he signalled they could rise as early as August, at the next policy review. Even though Asia’s fourth-largest economy has recovered rapidly and inflation is running above target, it is battling record COVID-19 cases as the more infectious Delta variant spreads, triggering strict measures and a semi-lockdown in the Seoul area.

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S Korea central bank keeps rates unchanged, as widely expected

S Korea central bank keeps rates unchanged, as widely expected
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South Korea central bank holds rates as COVID-19 surge clouds tightening plans

South Korea central bank holds rates as COVID-19 surge clouds tightening plans Reuters 6 hrs ago © Reuters/HEO RAN FILE PHOTO: Coronavirus disease (COVID-19) pandemic in Seoul By Cynthia Kim and Joori Roh SEOUL (Reuters) - South Korea s central bank kept monetary policy unchanged on Thursday as the country battles a spike in infections that threatens to derail policymakers plans to dial back stimulus this year. The Bank of Korea (BOK) held the benchmark interest rate at a record low of 0.50%, as expected by all 36 analysts surveyed by Reuters. Economists expect South Korea to be the first in Asia to raise interest rates. Governor Lee Ju-yeol in June said policymakers will start normalising interest rates this year to address the risk of asset bubbles and as inflation spiked over the central bank s 2% target.

Soult ukpyolsiSouth koreaJoori rohCynthia kimSam holmesLee ju yeolKim sang hunGovernor lee ju yeolதெற்கு கொரியாஜூரி ரோசிந்தியா கிம்சாம் ஹோம்ஸ்கிம் பாடினார் ஹன்

S Korea c bank holds rates, signals tightening prospects

Cynthia KimJoori Roh 3 minute read A man walks on a nearly empty street amid tightened social distancing rules due to the coronavirus disease (COVID-19) pandemic in Seoul, South Korea, July 12, 2021. REUTERS/ Heo Ran/File Photo Summary Governor Lee says addressing financial imbalance priority Board member Koh dissented to Thursday s rate decision SEOUL, July 15 (Reuters) - South Korea s central bank kept its monetary settings unchanged on Thursday, as expected, but gave strong indications an end to its run of pandemic era record-low interest rates was coming as price pressures build. Even as the country battles its worst outbreak of coronavirus, Governor Lee Ju-yeol maintained his earlier hawkish tone and pushed up the bank s inflation projection after keeping the benchmark interest rate at 0.50% (KROCRT=ECI).

Soult ukpyolsiSouth koreaJoori rohCynthia kimYoon yeo samSam holmesLee ju yeolThomson reuters trust principlesGovernor lee ju yeolThomson reuters trustதெற்கு கொரியாஜூரி ரோசிந்தியா கிம்யூன் ஆம் சாம்சாம் ஹோம்ஸ்தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ்

The tightening of South Korean containers makes exporters expensive winners for Reuters

The tightening of South Korean containers makes exporters expensive winners for Reuters By Cynthia Kim BUSAN (Reuters) – Unable to get a loophole in a Le Sang-hoon container ship, Busan is considering using fishing trawlers that it wants to fix in the South Korean port to increase orders to export car engine oil it sells to Russia. “China is the black hole in this shipping crisis, all carriers are headed there,” said Lee, owner of Dongkwang International Co. in Busan, which earns about $ 20 billion a year ($ 17.60 billion). “These fishing vessels out there may have an answer for us because we already have a month’s delay. That is, if we fix the shipping problems,” Lee said, pointing to the empty fishing trays visible from the Busan office.

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