{"id":35293,"date":"2023-07-13T17:32:54","date_gmt":"2023-07-13T21:32:54","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bank-of-korea-holds-key-rate-steady-again-amid-signs-of-easing-inflation-weaker-growth\/"},"modified":"2023-07-13T17:32:55","modified_gmt":"2023-07-13T21:32:55","slug":"bank-of-korea-holds-key-rate-steady-again-amid-signs-of-easing-inflation-weaker-growth","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35293","title":{"rendered":"Bank of Korea holds key rate steady again amid signs of easing inflation, weaker growth"},"content":{"rendered":"
\n

South Korea\u2019s central bank has held its policy rate steady for a fourth consecutive time amid signs that inflation is easing and growth is weakening.<\/p>\n

The Bank of Korea kept the benchmark seven-day repurchase rate unchanged at 3.50% on Thursday as widely expected, continuing a pause in its rate-increase campaign aimed at fighting inflation.<\/p>\n

\n

All 22 economists surveyed by The Wall Street Journal ahead of the BOK\u2019s decision had forecast no rate change in July, with four of them penciling in a possible rate cut by the end of 2023 to help boost growth. A majority of them still forecast no rate move throughout this year.<\/p>\n

The bank has maintained the current rate, set in January after years of policy tightening, since it stood pat in February. The BOK has since been increasingly viewed as preparing a policy pivot to support growth, though it has repeatedly cautioned against lowering rates any time soon.<\/p>\n

South Korea\u2019s economy is losing steam, with inflation slowing to a 21-month low of 2.7% in June. Exports \u2014 the country\u2019s key growth engine \u2014 fell on year for the ninth straight month in June.<\/p>\n

Both the BOK and the government now expect the country\u2019s gross domestic product to grow 1.4% in 2023, slower than their earlier estimate of 1.6%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea\u2019s central bank has held its policy rate steady for a fourth consecutive time amid signs that inflation is easing and growth is weakening. The Bank of Korea kept the benchmark seven-day repurchase rate unchanged at 3.50% on Thursday as widely expected, continuing a pause in its rate-increase campaign aimed at fighting inflation. All […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-35293","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBank of Korea holds key rate steady again amid signs of easing inflation, weaker growth | iFintechWorld<\/title>\n<meta name=\"description\" content=\"South Korea\u2019s central bank has held its policy rate steady for a fourth consecutive time amid signs that inflation is easing and growth is weakening. 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