South Korea's central bank will deliver its first-ever 50 basis point rate rise to 2.25% on Wednesday, turning up the heat on a rate-hiking campaign as inflation tops a 24-year high and has yet to peak, a Reuters poll showed on Monday.
One of the first central banks to start raising rates, in August 2021, the Bank of Korea is still grappling with inflation, which reached 6.0% in June, the highest since November 1998 when an Asian financial crisis was in full swing.
The Korean won has been one of the worst performers in emerging markets this year, tumbling more than 8.5% and set to fall further. "A hawkish U.S. Fed, at a time when South Korea's position is under pressure, also supports the case for more aggressive tightening," said Tan, who is going for a 50 basis point move on Wednesday.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
South Korea, US officials discuss sharing data in crypto investigations: ForkastSouth Korea’s Justice Minister Han Dong-hoon met with US investigators in New York amid the countries’ separate probes into Terraform Labs and co-founder Do Kwon
Weiterlesen »
Abe assassination resurfaces Japan’s complex legacy in China, South KoreaSympathy from foreign leaders rushed in shortly after Shinzo Abe was shot on Friday. But in China and South Korea, which bore the brunt of militarist Japan’s brutality in the first half of the 20th century, the reaction was more complicated.
Weiterlesen »
One Of The 50 Lamborghini Aventador LP 700-4 Miura Homages Is Up For Sale | CarscoopsOne Of The 50 Lamborghini Aventador LP 700-4 Miura Homages Is Up For Sale | Carscoops carscoops
Weiterlesen »
At 50, NASCAR Hall-of-Famer Matt Kenseth Returns to Short-Track RootsWisconsin native set to race in SRX and Slinger Nationals at Slinger, Wisconsin.
Weiterlesen »
This ‘Cooling’ Seat Cushion Helps With Pain Relief & Is Over 50% Off Ahead of Prime DayTreat your tushes to this reportedly pain-relieving and cooling seat cushion that's on super sale ahead of Amazon Prime Day.
Weiterlesen »
Yes, Another Heat Wave: Almost 50 Million Under Heat Alerts Across U.S.The U.S. has dealt with heat wave after heat wave for several weeks—a pattern forecasters warn could continue into the fall.
Weiterlesen »