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.
Some truly great information, Gladiolus I found this.
Glad to be one of several visitors on this awful internet site : D.
There is a lot of misunderstanding about these issues today. Your material helps explain things.
Nice read, I just passed this onto a friend who was doing a little research on that. And he just bought me lunch as I found it for him smile Thus let me rephrase that: Thanks for lunch!
Simply wanna input on few general things, The website design is perfect, the subject material is very excellent. “Earn but don’t burn.” by B. J. Gupta.
Hi there! Quick question that’s completely off topic. Do you know how to make your site mobile friendly? My weblog looks weird when browsing from my iphone 4. I’m trying to find a template or plugin that might be able to fix this issue. If you have any suggestions, please share. Many thanks!
Thanks for another informative website. Where else could I get that type of information written in such an ideal way? I have a project that I’m just now working on, and I’ve been on the look out for such information.
Merely a smiling visitor here to share the love (:, btw outstanding design and style.
I truly appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thank you again
Very interesting topic, thanks for putting up.
Great post. I was checking continuously this blog and I am impressed! Extremely helpful info specially the last part 🙂 I care for such information much. I was seeking this certain info for a very long time. Thank you and best of luck.
Those are yours alright! . We at least need to get these people stealing images to start blogging! They probably just did a image search and grabbed them. They look good though!
Greetings I am so thrilled I found your site, I really found you by accident, while I was researching on Google for something else, Anyhow I am here now and would just like to say cheers for a fantastic post and a all round entertaining blog (I also love the theme/design), I don’t have time to read it all at the moment but I have saved it and also added in your RSS feeds, so when I have time I will be back to read much more, Please do keep up the excellent job.
Hello. Great job. I did not expect this. This is a excellent story. Thanks!
Keep working ,fantastic job!
Thank you for this great piece of content. Best Regards
Someone essentially help to make seriously posts I would state. This is the very first time I frequented your website page and thus far? I surprised with the research you made to create this particular publish amazing. Excellent job!
Thanks for the sensible critique. Me & my neighbor were just preparing to do some research about this. We got a grab a book from our local library but I think I learned more clear from this post. I’m very glad to see such fantastic info being shared freely out there.
Good info. Lucky me I reach on your website by accident, I bookmarked it.
We’re a group of volunteers and starting a new scheme in our community. Your website offered us with valuable info to work on. You have done a formidable job and our whole community will be grateful to you.