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15 Jan 2015
BOK leaves rates unchanged, cuts GDP forecast – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that the Bank of Korea kept rates unchanged at 2.0% as anticipated, and also cut 2015 GDP forecasts for Korea to 3.4% from previous 3.9%.
Key Quotes
“Bank of Korea left rates on hold at 2.0% as expected in a unanimous decision, but also cut 2015 GDP target to 3.4% from 3.9% and CPI to 1.9% from 2.4%.”
“BOK anticipates inflation to bottom and start rising by H2 of this year, pledging to monitor domestic household debt, capital flows, oil prices, and KRW rate against JPY.”
“BOK added it would soon decide on whether to lower its inflation target to reflect the pressure from the oil price slump. KRW initially fell to 1,087 against the dollar, before bouncing to 1,082 later in the day.”
Key Quotes
“Bank of Korea left rates on hold at 2.0% as expected in a unanimous decision, but also cut 2015 GDP target to 3.4% from 3.9% and CPI to 1.9% from 2.4%.”
“BOK anticipates inflation to bottom and start rising by H2 of this year, pledging to monitor domestic household debt, capital flows, oil prices, and KRW rate against JPY.”
“BOK added it would soon decide on whether to lower its inflation target to reflect the pressure from the oil price slump. KRW initially fell to 1,087 against the dollar, before bouncing to 1,082 later in the day.”