South Korea
IMF economists release study on LTV and DTI limits in six countries
Working paper studies the implementation and effectiveness of loan-to-value and debt-service-to-income limits in Brazil, Hong Kong, Malaysia, Poland, Romania and South Korea
IMF paper identifies countries that ‘pass through’ spillovers
Individual countries can amplify, absorb or block spillovers, depending on their economic and structural characteristics, researchers at the IMF find
Bank of Korea annual report sheds light on organisational shake-up
Central bank expanded research functions, improved communications, and established a ‘task force’ to examine the effectiveness of internal management in 2014
Korea introduces RMB discount window
Bank of Korea to launch emergency liquidity facility offering Chinese currency as part of broader infrastructure push aimed at bolstering Seoul's role as RMB hub
Governor wants freer thinking at 65-year-old Bank of Korea
Juyeol Lee hints at coming shake-up, calling for openness to ‘creative ideas’ as central bank prepares to set new inflation target
Virus outbreak prompts Bank of Korea rate cut
Deadly Mers virus a key factor behind central bank’s decision to ease policy as economic recovery shows signs of faltering
IMF deputy warns ‘leakages’ could undermine macro-prudential policy
Mitsuhiro Furusawa says macro-prudential tools could force financial activities into a less regulated sector or country, but adds little is known about benefits of ‘leaning against the wind’
Korea’s record rates have further to fall, says economist
Rate cuts still look to be on the horizon despite the Bank of Korea holding steady at record lows today, says economist; government also likely to have to provide further stimulus
Bank of Korea paper examines global liquidity drivers
Researchers at central bank explore transmission of global liquidity shocks from advanced to emerging market economies; warns there is no ‘silver bullet’ response
Bank of Korea governor sees imbalances worsening
Juyeol Lee warns a ‘fundamental rebalancing’ may be the only way to achieve longer-term growth; external imbalances may also deteriorate
Bank of Korea turns focus to stability threats after rate cut
Bank of Korea cuts rates to historic low, but shift in language indicates growing concerns over financial stability
Amro revamped in agreement struck at IMF meetings
Macroeconomic Research Office will become an international organisation when agreement is ratified, 'contributing further to regional financial stability'
Korea needs more women and young people in work, paper finds
Labour market ‘duality' and low youth and female employment are holding back growth, according to paper written by Bank of Korea and IMF economists
Bank of Korea cuts interest rate to lowest level since 2010
Decision prompted by ‘much worse' business sentiment than expected, governor says; analysts expect limited boost to GDP as economic slowdown is ‘structural in nature'
Chiang Mai Initiative doubled in size to $240 billion
Financial safety net for China, Japan, Korea and the Asean nations doubled in size; Bill Allen describes the initiative as 'ornamental' as it has never actually been used
Bank of Korea predicts sharp inflation increase
South Korea’s central bank expects annual inflation to climb above 2.5% in the fourth quarter, suggesting the MPC will turn its attention to rate increases later this year
Foreign banks acted as 'buffer' on Korean monetary policy during the crisis
Bank of Korea working paper examines the impact of foreign banks on the central bank’s monetary policy transmission mechanism during the recent crisis
Former deputy nominated as Bank of Korea governor
South Korean president nominates Lee Ju-yeol as Kim Choong-soo’s successor; Lee spent 35 years at the central bank in his first stint including three years as a deputy
Australia, Korea strike $5 billion swap deal
Glenn Stevens and Choong Soo Kim sign the countries’ first swap arrangement on the sidelines of the G-20 meeting as they look to promote bilateral trade
Government intervention shielded Korea from global credit crunch
Paper by Bank of Korea and IMF economists argues external buffers such as foreign reserves and swap agreements means the country is in good shape to weather global financial turmoil
Korea sheds light on MPC voting results
Bank of Korea monetary policy report reflects on the decision to announce voting results in the wake of MPC meetings; only one disagreement in the ensuing seven meetings
Dollar lending in East Asia can override local monetary policy, says BIS' McCauley
Paper by Robert McCauley and Dong He of the HKMA argues the growth of credit in foreign currencies, especially the dollar, transmits global monetary easing to East Asia
Korean MPC member says economy ‘relatively safe’ from impact of Fed taper
Woosik Moon says emerging economies will see long-term interest rates rise as global liquidity contracts, but the strength of Korea’s economy should insulate it against the turbulence
Korea's Kim calls for economic patriotism at central bank
The Bank of Korea must develop the capacity to match other central banks around the world in acting in the interest of the country's economy, says Choong Soo Kim