Latest news and articles about south korean economy from NEX English
The South Korean central bank has adopted a cautious approach in its monetary policy, emphasizing the need to monitor the impact of the war in Iran on growth and inflation. This decision was made during the monetary committee meeting on April 10, where the interest rate was maintained at 2.50%.
The Korean Central Bank announced it will maintain the main interest rate at <strong>2.50%</strong> due to ongoing impacts from the war in Iran. This decision comes as oil prices rise and inflation and economic growth threats loom.
Kim Sung-jo, head of South Korea's largest pension fund, stated that the recent decline of the Korean won against the US dollar during market turmoil may necessitate immediate actions for stabilization. This was mentioned during an interview in Seoul.