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Market Chatter: Bank of Korea Cuts Growth Forecast Amid Political, Trade Woes
South Korea May Post Marginally Softer GDP Growth for 4Q 2024 -- Market Talk
Two "accidents" in 24 hours! Are the central banks in Asia facing an increasingly difficult "currency defense battle"?
① In the 24-hour period from Wednesday to Thursday this week, central bank rate decision-makers in Asia have surprised people with two "unexpected" moves; ② one being the unexpected decision by the South Korean central bank on Thursday to keep interest rates unchanged, not catering to the market's expectations of a potential third consecutive rate cut; ③ and earlier, the Indonesian central bank unexpectedly lowered rates on Wednesday to stimulate the economy, which swiftly undermined the exchange rates of the Indonesian rupiah.
South Korea Keeps Key Rate Unchanged at 3%
Concerns about Exchange Rates intensify as the South Korea central bank unexpectedly maintains the interest rate at 3%.
The central bank of South Korea unexpectedly kept the benchmark interest rate unchanged at 3% on Thursday, while increasing support for small and medium-sized enterprises to boost the economy.
Bank Of Korea Surprises Markets By Holding Interest Rates Amid Economic Turmoil