Defying some expectations, the Bank of Korea Monetary Policy Committee froze the country’s policy rate at 1.75% on Friday.
BOK Governor Lee Ju-yeol mentioned that some had raised the possibility of a rate cut due to the surprise negative growth the economy suffered in the first quarter amid the intensifying trade dispute between the US and China. However, the prevailing view of the board was that a rate cut is not to come anytime soon.
In April, the Monetary Policy Committee unanimously decided to maintain the policy rate, but at this month’s meeting, one member called for a rate cut. At a press conference, Lee shot that down. “The minority opinion is just a minority opinion, and it is too much to see it as a signal of monetary policy,” he said.
A frothy real estate market and heavy household debt are two key factors obviating a rate cut.
A rise in housing prices has calmed down amid rigid government measures to curb demand, but expectations of a rebound in real estate prices are spreading. Lee noted that household debt growth has slowed, but its still “quite excessive.”
He went on to say that he expected the economy to recover on the back of improving exports and investment, and an expansionary fiscal policy.
Asked if there is a possibility of lowering the central bank’s GDP growth forecast for this year, which currently stands at 2.5 percent, Lee said only, “The economy is expected to improve in the second half.”
However, he added that the BOK would be monitoring external conditions.
I enjoy you because of every one of your labor on this blog. My daughter enjoys getting into investigation and it’s obvious why. All of us learn all of the powerful means you convey important guides by means of your web site and therefore cause response from other ones about this content and our own simple princess is truly becoming educated a lot. Take pleasure in the rest of the year. You are always carrying out a really good job.
I know this if off topic but I’m looking into starting my own weblog and was curious what all is needed to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web savvy so I’m not 100 certain. Any tips or advice would be greatly appreciated. Cheers
I’m not sure where you’re getting your information, but good topic. I needs to spend some time learning much more or understanding more. Thanks for magnificent info I was looking for this information for my mission.
I have been absent for a while, but now I remember why I used to love this website. Thank you, I’ll try and check back more frequently. How frequently you update your site?
Wow! Thank you! I permanently needed to write on my blog something like that. Can I include a portion of your post to my site?
superb post.Ne’er knew this, appreciate it for letting me know.
Awesome website you have here but I was curious about if you knew of any forums that cover the same topics discussed in this article? I’d really like to be a part of group where I can get comments from other knowledgeable individuals that share the same interest. If you have any suggestions, please let me know. Thanks!
hello there and thanks for your information – I have certainly picked up something new from proper here. I did on the other hand expertise a few technical points using this site, as I experienced to reload the web site many instances prior to I may just get it to load properly. I had been brooding about in case your web hosting is OK? Now not that I am complaining, but slow loading circumstances instances will often have an effect on your placement in google and can injury your quality rating if ads and ***********|advertising|advertising|advertising and *********** with Adwords. Well I’m including this RSS to my e-mail and could look out for a lot more of your respective interesting content. Make sure you replace this again very soon..
You are my intake, I own few blogs and sometimes run out from to brand : (.
Hi there! This is my first visit to your blog! We are a group of volunteers and starting a new initiative in a community in the same niche. Your blog provided us beneficial information to work on. You have done a extraordinary job!
I got what you mean , appreciate it for posting.Woh I am lucky to find this website through google.
It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks
Very good written story. It will be beneficial to anyone who utilizes it, including myself. Keep up the good work – i will definitely read more posts.
I enjoy what you guys are usually up too. Such clever work and exposure! Keep up the superb works guys I’ve included you guys to blogroll.
I love your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you? Plz reply as I’m looking to construct my own blog and would like to find out where u got this from. thanks
Very nice post and right to the point. I am not sure if this is really the best place to ask but do you people have any ideea where to hire some professional writers? Thanks 🙂
I have been reading out a few of your articles and i can state clever stuff. I will definitely bookmark your site.
I believe other website owners should take this site as an example , very clean and excellent user friendly design and style.
It’s the best time to make some plans for the future and it’s time to be happy. I have read this post and if I could I desire to suggest you few interesting things or suggestions. Maybe you can write next articles referring to this article. I want to read more things about it!
Unquestionably believe that which you said. Your favorite reason seemed to be on the net the easiest thing to be aware of. I say to you, I certainly get annoyed while people consider worries that they plainly don’t know about. You managed to hit the nail on the head. Will probably be back to get more. Thanks