eseoulpost
DomesticEconomy
Central bank to continue accommodative monetary policy in 2019: BOK chief
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2019.01.01  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   
 

SEOUL, Dec. 31 (Yonhap) -- South Korea's central bank chief said Monday that an accommodative monetary policy will be maintained in the new year in the face of low inflationary pressure and slowing economic growth.

 "It is necessary to maintain the accommodative monetary policy as the economy will likely pull off upper 2 percent growth and the inflationary pressure will remain low," Bank of Korea (BOK) Gov. Lee Ju-yeol said in his New Year's message. "The BOK will carefully watch the pace of economic growth, inflation and financial stability before tuning up its monetary policy plans."

 The BOK raised the country's policy rate to 1.75 percent last month, citing that it is the right time to curb massive household debt, which surpassed 1,500 trillion won (US$1.35 trillion) in September.

 It was the second rate hike since the BOK first adjusted the key rate from a record low of 1.25 percent in November last year.

 The adjustment comes as Asia's fourth-largest economy seems to be losing steam, dragged down by sluggish employment and contracting corporate investment.

 

The BOK forecast the economy will expand just 2.7 percent next year, while other private and state-run think tanks and investment banks have come up with lower 2.3-2.6 percent growth outlooks.

 Lee said the central bank aims to keep close tabs on the financial market as the U.S. monetary normalization may spark a foreign outflow.

 As the Federal Reserve lifted its fund rate four times to 2.25-2.50 percent, the rate difference between South Korea and the United States has widened to 0.75 percentage point.

 A wider rate spread may lead to foreign funds leaving the country that can pose challenges for the local financial market. Currently, more than 30 percent of the market capitalization of South Korea's benchmark KOSPI bourse is owned by foreign investors.

 "Under the extended rate disparity, a potential increase in risk aversion across the world would fuel the volatility of capital flows," Lee said.

 Next year, the central bank will hold eight rate-setting meetings, with the first to take place Jan. 24.

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Mohamed bin Zayed, Liberian President explore prospects of joint cooperation
2
UAE, Chile discuss economic relations
3
Global Peace Building through Cultural Diplomacy is Discussed in Bucharest, Romania
4
President asks former U.N. chief Ban to help tackle fine dust pollution
5
Saif bin Zayed visits ‘Zayed-Gandhi Digital Museum’
6
Abdullah bin Zayed visits Museum of Pre-Columbian Art in Chile
7
Tsai arrives in Palau on Oceans of Democracy 2019 Presidential Visit
8
IGCF 2019: Media needs to assume a transformational role,governments need to communicate more strategically to increase their ‘soft power’ currencies
9
Presence of U.S. ambassador at Tsai banquet significant: scholars
10
TAQA announces 2018 financial results with AED398 million in profit
Photo News Green Biz
Restoration of nature requires actions of many :Al Zeyoudi
Restoration of nature requires act...
min
Al Zeyoudi to head UAE delegation to upcoming Global Climate Action Summit in California
Al Zeyoudi to head UAE delegation ...
min
Plastic wastes from Korea legal: MisOr ecozone exec
Plastic wastes from Korea legal: M...
min
Spotlight on UAE's environmental efforts at Urban Sustainability Week
Spotlight on UAE's environmental e...
min
DEWA invites customers to take up Shams Dubai to generate onsite solar power
DEWA invites customers to take up ...
min
Photo News Sports
Over 500 Paralympic athletes to compete in IWAS World Games 2019 on Sunday in Sharjah
Over 500 Paralympic athletes to co...
min
New York City FC announces preseason in Abu Dhabi
New York City FC announces preseas...
min
AFC Asian Cup UAE 2019
AFC Asian Cup UAE 2019
min
VP crowns Abdullah Al Marri winner of Mohammed Bin Rashid Endurance Cup
VP crowns Abdullah Al Marri winner...
min
Welcome to the land of Zayed, land of tolerance, Nahyan bin Zayed tells 2019 AFC Asian Cup teams
Welcome to the land of Zayed, land...
min
World Taekwondo Grand-Prix Final launched in Fujairah
World Taekwondo Grand-Prix Final l...
min
Koreas agree to formally inform IOC of intent to co-host 2032 Olympics
Koreas agree to formally inform IO...
min
Etisalat sponsors UAE Paralympics at Asian Para Games
Etisalat sponsors UAE Paralympics ...
min
Photo News World
Over 500 Paralympic athletes to compete in IWAS World Games 2019 on Sunday in Sharjah
Over 500 Paralympic athletes to co...
min
New York City FC announces preseason in Abu Dhabi
New York City FC announces preseas...
min
AFC Asian Cup UAE 2019
AFC Asian Cup UAE 2019
min
VP crowns Abdullah Al Marri winner of Mohammed Bin Rashid Endurance Cup
VP crowns Abdullah Al Marri winner...
min
Welcome to the land of Zayed, land of tolerance, Nahyan bin Zayed tells 2019 AFC Asian Cup teams
Welcome to the land of Zayed, land...
min
World Taekwondo Grand-Prix Final launched in Fujairah
World Taekwondo Grand-Prix Final l...
min
Koreas agree to formally inform IOC of intent to co-host 2032 Olympics
Koreas agree to formally inform IO...
min
Etisalat sponsors UAE Paralympics at Asian Para Games
Etisalat sponsors UAE Paralympics ...
min
Photo News Opinion
S. Korea will strengthen income-led growth policy after making changes: finance minister
S. Korea will strengthen income-le...
min
PyeongChang Olympic facilities to be turned into nat'l archives, training center
PyeongChang Olympic facilities to ...
min
Ex-Prime Minister Hwang elected new chief of main opposition party
Ex-Prime Minister Hwang elected ne...
min
Samsung chief's attendance at Samsung Elec board meeting drawing focus
Samsung chief's attendance at Sams...
min
President Moon appoints new head of Seoul National University
President Moon appoints new head o...
min
President reaffirms efforts to build 'inclusive' nation
President reaffirms efforts to bui...
min
Moon blasts opposition lawmakers for denying 1980 democracy movement
Moon blasts opposition lawmakers f...
min
Presidential consultative body to hold discussion on inter-Korean economic cooperation
Presidential consultative body to ...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com