South Korea
Bank of Korea hikes rates again
The Bank of Korea raised its benchmark overnight call rate by 25 basis points at their monthly monetary policy meeting in Seoul yesterday. In doing so, governor Park Seung and his six fellow policymakers raised the overnight call rate to 4%.
Enough said, Mr. Park
This Editorial published on Friday 13 January urges Bank of Korea Governor Park Seung not to cause any more losses to the country through his verbal mistakes. Following comments made Thursday by Mr Park, the won surged immediately, causing a big…
BOK vows intervention to stabilise won
The government and the Bank of Korea will make significant efforts to stabilise the Korean economy, according to Korea's top economic official.
Korea using all means to weaken currency
South Korea's finance ministry said on Friday 6 January it would mobilise all possible means to curb the won's recent sharp appreciation against the US dollar.
Duck-soo urges BoK caution
South Korea's finance minister, Han Duck-soo, said on Tuesday 15 November that the Bank of Korea should be "more cautious" in raising interest rates.
No rates change, recovery "gradual" - BoK's Park
The Bank of Korea (BoK) on Thursday 10 November left its benchmark short-term interest rate unchanged at 3.5 percent. The decision was widely expected by market participants, following a 25 basis point increase last month.
BoK feels the pinch
Bank of Korea (BoK) officials are up in arms about alleged plans by the government to scrap some of the central bank's 16 regional headquarters and cut its payroll.
Missing ingredient in BOK
According to this article published on Wednesday 26 October, although the Bank of Korea's interest rate policy is supposed to be as powerful as the Fed's, few still believe that the BOK operates its monetary policy independently from the government.
BOK report sees China dominant economy by 2040
China will become the world's largest economy in terms of GDP by 2040, and India will closely follow its heels, according to a soon to be released report from the Bank of Korea.
S. Korea fin min says cb can support recovery
South Korea's Minister of Finance and Economy Han Duck-Soo said Tuesday 13 September that the Bank of Korea should use its monetary policy to support economic growth as inflationary pressure is benign.
Interview with IMF's Rodrigo de Rato
In an interview published this week IMF managing director Rodrigo de Rato warns that high oil prices could halt Korea's economic recovery. He also says sluggish export growth could put a brake on the recovery.
BOK will 'seriously' consider rate hike next month
Bank of Korea governor Park Seung said the central bank may raise its benchmark interest rate as early as next month as it needs to act before a full economic recovery.
Growth rate in Korea at second-lowest: ADB
Korea's economic growth rate for 2006 will be the second-lowest out of a dozen Asian economies, the Asia Development Bank predicted in a report.
Bank of Korea chief pledges wealth to education
The governor of the Bank of Korea, Park Seung, said this week that he is willing to donate his personal wealth to help the nation's education when he dies.
Korea suggests it may hike rates
The Bank of Korea said on Thursday 11 August that it would consider increasing interest rates if the economy recovered fully.
Bank of Korea - Annual Report 2004
The Bank of Korea has published its Annual Report for the year ended 2004. Over the course of 2004, despite the buoyancy of exports, the state of overall business activity showed little improvement because of the protracted downturn of domestic demand,…
Korea launches reserve management agency
South Korea launched an independent agency Friday 1 July which will manage part of its foreign exchange reserves, seeking to boost investment returns.
BOK governor's trouble
Following Bank of Korea governor Park Seung's harsh criticism and calls for his his resignation this week, this article says the attack is likely to cause a stir as the law stipulates the BOK chief's four-year term to guarantee the central bank's…
Bank of Korea governor urged to quit
Lawmakers this week called for Bank of Korea governor Park Seung to take "full responsibility" and resign following recent comments he made.
Korea postpones currency swap decision
The Bank of Korea (BOK) postponed a decision Wednesday 15 June on a proposal to lend some of its foreign exchange reserves to domestic banks through currency swaps, the central bank said.
East Asia's cb heads meet Friday 27 May
The heads of the central banks of South Korea, China and Japan will meet in Seoul on Friday 27 May to discuss various topics, including foreign exchange markets.
IBM transforms Bank of Korea's forex system
A major software giant has said it has completed the transformation of the Bank of Korea's foreign exchange asset management system for foreign exchange reserves.
South Korea to continue currency intervention
South Korea's minister of finance and economy on Thursday 19 May denied a news report that the government has decided not to intervene in currency markets.
BOK sees no shift on yuan rate for now
The Bank of Korea (BOK) said on Tuesday 17 May that China is unlikely to revalue the yuan against the US dollar anytime soon, as its economy depends largely on exports to boost growth.