South Korea
South Korean won slips following Kim Jong-il’s death
Death of North Korean leader causes South Korean won to hit two-month low against dollar and sterling; world waits to see how youngest son will handle succession
South Korea takes heed of US sanctions on Iran
US Senate passes bill containing strict new sanctions affecting Central Bank of Iran; South Korea government warns businesses of implications
European uncertainty reflected in central bank decisions worldwide
Germany, Austria, India and South Korea lower growth estimates as a slew of countries hold interest rates; world looks on and waits to see if Europe can agree a solution to the sovereign debt crisis
FSB Asia Regional Consultative Group holds first meeting
Asian regional consultative group gathers in Korea to exchange views on key financial stability issues
Industry praises expansion of South Korea’s currency swap arrangements
Senior executives of large enterprises praise Bank of Korea for expanding currency swaplines with Japan and China; industry concerned about slowdown caused by eurozone crisis
Korea governor selection process under fire
Politician takes on president’s ability to choose governor of the central bank board; wants to see candidates face parliamentary confirmation hearings
Price stickiness reduces productivity gains and job creation: Bank of Korea paper
Bank of Korea says less rigid prices and more elastic demand can heighten effects of productivity on job creation
Korea and China renew currency swap deal early
People’s Bank of China and Bank of Korea agree to renew and expand currency swap arrangement; also discuss converting swap currencies into reserves
Japan and South Korea reinforce yen-won swap agreement
Bank of Japan and Bank of Korea increase size of bilateral yen-won swap arrangement tenfold; Japanese government also expands swap agreement with South Korea
Bank of Korea holds economic review meeting
Governor Kim Choongsoo meets with heads of institutions and scholars; domestic financial markets ‘overreacting’ to changes in external conditions
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
Central banks’ flight to safety in reserve holdings continues
Reports continue to emerge from around the world of central banks diversifying their foreign currency reserves and adding to gold holdings
Taiwan denies controlling exchange rates
Central bank issues “clarification” of the “managed floating exchange rate regime” in place in Taiwan
Korea passes revision to central bank legislation
Greatly enhanced financial stability responsibility awaits the central bank; large-scale reorganisation of staff will happen
Risks to Korean banking sector have declined: IMF paper
Fund study says Korean banks face less financial and contagion risk since the financial crisis
South Korea follows through on gold purchase plans
South Korea buys $1.24 billion worth of gold; governor said in October 2010 that central bank was considering expanding gold holding
South Korea monetary policy talks between government and central bank
Finance ministry official meets with central bank deputy governor to discuss macroeconomic policy; fears central bank may be losing independence
Bank of Korea – Annual Report (2010)
Bank of Korea 2010 Annual Report highlights growing inflationary concerns in South Korea
Korea’s Kim on clash in balance of risks
Bank of Korea governor Choongsoo Kim says combination of strong upside and downside risks makes policy task increasingly challenging
Korean recovery shows signs of buoyancy: Bank of Korea Economic Bulletin
Bank of Korea weekly Economic Bulletin says recovery continued upward trend in February on back of strong production and consumption reports
Korea optimistic on course of recovery
Summary of discussion at Bank of Korea Economic Review meeting shows academics and government officials remained optimistic over country's growth prospects
South Korea promotes use of SWF to acquire foreign businesses: reports
Korea’s Presidential Council on National Competitiveness head Kang Man-soo says Korea Investment Corporation can help expand mergers and acquisitions abroad
Bank of Korea siphons $3 billion into SWF: reports
Korean central bank to place additional $3 billion in care of sovereign wealth fund, according to reports
CEPR: inflation targeting a success in Asia
Centre for Economic Policy Research study says introduction of inflation targeting framework in Asian countries reduced inflation persistence