South Korea
Hyun Song Shin nominated as Bank of Korea governor
BIS’s former top economist says he will helm central bank at ‘critical juncture’
BoK debuts bespoke AI for central bank use
Technology trained on Korean language inputs will aid research and compliance, Bank of Korea says
Legal threat to Fed accelerates Asean+3 contingency planning
AMRO chief economist says central bank independence of paramount importance for stability
BoK leaves policy rate unchanged
Economists predict South Korean central bank will hold at 2.5% for remainder of year
Central bank governors express ‘full solidarity’ with Powell
Lagarde and Bailey among signatories of statement in wake of Department of Justice investigation
South Korea holds policy as expected
Economists expect decision to mark end of easing cycle
Confidence in dollar undiminished since April, says BIS’s Shin
Institution’s head of monetary and economic policy says no hard evidence of shift from US currency
More independent central banks hold fewer dollars – research
De-dollarisation benefits Singaporean and Korean currencies, while Australia’s and China’s lose out
CBDC technical design has little impact on demand – BoK study
Working paper also finds that interest-bearing retail instruments attract more interest
Asia-Pacific central banks list geopolitics, AI among key challenges
EMEAP, representing monetary authorities from across region, commits to strengthening co-operation
BoK holds policy at 2.5% and signals room for further cuts
Rhee Chang Yong says four of six board members open to cutting to 2.25% over next three months
BoK meeting minutes show sole dissenter favoured rate cut
Board members agreed economy showed signs of recovery, but majority voted to hold
Dollar dominance amplifies transmission of US shocks – study
Bank of Korea research recommends promoting South Korean bonds and internationalisation of won
South Korea planning to revive paused CBDC programme
Bank of Korea’s Rhee says CBDC may be used to distribute government subsidies
BoK economists discuss policy responses to ‘super ageing’
In Do Hwang and Boreum Kwak speak about the actions South Korea should take as critically low birth rate limits central bank’s policy space
Climate change harming global economy – BoK study
Study finds high income countries more vulnerable to climate change, in contrast to other research
Bank of Korea defends current board composition
South Korea’s ruling party proposes to cut BoK members on board and install labour representative
BoK governor expresses confidence in finance minister
Rhee’s comments follow apparent discord between bank and government over digital assets policy
Monetary policy alone will not solve Korea’s problems – paper
Study calls for structural changes to tackle ageing population, high debt and low growth
Ageing societies limit monetary policy space – BoK study
“Super aged” populations cut growth and inflation, and weaken banking sector, authors say
US monetary policy has greater impact, BoK modelling shows
Researchers say findings show importance of diversifying export markets and monitoring US conditions