Bank of Korea Policies
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The Bank of Korea governor has called for a timely interest rate hike to prioritize price stability. The central bank also extended interest payments on excess reserves and foreign currency deposits by six months. A recent analysis found wealth concentration erodes productivity.
Bank of Korea governor calls for timely interest rate hike
- Bank of Korea Governor Shin Hyun-song reiterated the need for an interest rate hike. - He emphasized prioritizing price stability, particularly for low-income households. - Financial markets anticipate a rate increase at the next Monetary Policy Committee meeting in July.
Wealth Concentration Erodes Productivity, Bank of Korea Finds
- A Bank of Korea analysis found that a 1 percentage point increase in the asset share of the top 10% correlates with a 0.16% decrease in productivity. - South Korea's top 10% wealth share is projecte…
Bank of Korea Extends Interest Payments on Excess Reserves by Six Months Amid Currency Surge
- The Bank of Korea extended the interest payment period on excess reserves held by financial institutions by six months. - This measure is intended to stabilize the foreign exchange market amid rapid…
Amid high exchange rates, the Bank of Korea extends interest payments on excess foreign currency deposits for six months
- The Bank of Korea has extended its policy of paying interest on excess foreign currency deposits held by banks by six months. - This measure is intended to help stabilize the foreign exchange market…
