Author: Admin
South Korea’s central bank (Bank of Korea / BOK) will not change the projected benchmark rate that has survived for 15 months to anticipate the impact of the credit crisis in Europe.
South Korean government assess the ongoing economic recovery has not been strongly denied the increase in borrowing costs. In addition the European central bank rate crisis can spur an increase borrowing costs. South Korean benchmark interest rate unchanged since February 2010.
A total of 12 economists in a Bloomberg News survey said Governor Kim Choong Soo and Bok board members will maintain the repurchase rate a duration of 7 days in the lowest level in history, at 2% in the meeting tomorrow.
South Korean currency rose nearly 10% during the last 12 months and on May 9 approved the policy makers to act to prevent a tightening of supervision and the European crisis to economic recovery if needed.
South Korean President Lee Myung Bak predicts gross domestic product (GDP) of countries that grow above 5% in 2010. He made the economic growth and opening up new employment as a policy priority in the election next month.
“Interest rate policy this week would be the situation of the Greeks and the elections in June. Economic recovery is still needed to be strengthened and inflation remained low,” said Lee Sang Jae, Chief Economist, the Hyundai Securities Co…
Posted in