Bank of Korea
S Korea confirms continuing slow growth
South Korea's third-quarter gross domestic product grew by a revised, seasonally adjusted 0.8 percent from the previous quarter, confirming that Asia's fourth-largest economy slowed for the second straight quarter amid growing concerns over Europe's sovereign debt crisis and a global economic slowdown.
The revised growth is up slightly from the 0.7 percent estimate made in October by the Bank of Korea, but slower than the 0.9 percent quarter-to-quarter expansion in the second quarter and the 1.3 percent gain in the first quarter.
S Koreans' inflation expectations hit 29-month high
South Korean consumers' confidence dipped to a five-month low in August while their inflation expectations hit a 29-month high, a central bank survey showed on Thursday, putting the Bank of Korea in a deeper policy dilemma.
The Bank of Korea said in a statement its consumer sentiment index, compiled from a survey on how South Koreans assess the economic outlook and their future living standards, fell to 99 in August from 102 in July.
S Korea vows all-out effort to tame inflation
The Bank of Korea's top policy priority this year will be to stabilise inflation, while adjusting monetary policy in view of the global economic situation, the central bank said on Thursday.
Separately, the finance ministry pledged to make an effort "on all fronts" to curb price pressures, at a time when surging oil and commodities prices are fanning inflation expectations around the region.
Consumer inflation is forecast to quicken to 3.5 percent this year from last year's 2.9 percent, according to the Bank of Korea.
Korea unexpectedly holds rate
The Bank of Korea(BOK) kept interest rates steady on Thursday, defying expectations of a rate increase, and signaled that a shaky global outlook means any monetary tightening in the coming months will be modest.
The BOK left its benchmark rate at 2.25 percent, where it has stood since the bank raised it by a quarter of a percentage point from a record low in July. The market had anticipated another quarter-percentage-point increase on Thursday to keep inflation in check.
S Korea holds rates steady
The Bank of Korea has kept its benchmark interest rate unchanged at 2.25 percent, pausing in its tightening cycle barely a month after taking the first step towards normalising monetary conditions, but hinting at more rate increases ahead.
With inflationary pressures building from oil and commodities, the central bank also shifted its policy emphasis toward controlling inflation over promoting growth.
1st rate rise for 2 years in S Korea
The Bank of Korea raised interest rates last week for the first time since the start of the financial crisis, and cemented expectations of more tightening by predicting solid growth and higher inflation.
The central bank lifted its base rate by 25 basis points from a record low of 2 percent, joining regional peers from Australia to India, Taiwan and Malaysia in the campaign to return policy to pre-crisis mode.
