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Korea tends to keep Benchmark unchanged?

Discussion in 'Forex Discussions' started by ikonforex, Jan 5, 2011.

  1. ikonforex

    ikonforex New Member

    Dec 22, 2010
    Likes Received:
    The committee member of the Bank of Korean, Kang Myund Hun said on Wednesday that the economic prospects and the uncertainty of inflation in Korean has increased at the end of last year, and those kind of uncertainties may be heavier because the oil rising and weak economic growth of developed countries.

    In light of the risks mentioned above, he tended to maintain benchmark unchanged.

    The monetary committee of the Bank of Korea increased interest rate 25 basis points in July 2010 and November respectively.

    He added that the uncertainty of goods price and economic development may be heavier than that last year, especially in 2011.

    He held that though the moderate global economy may lighten the inflation pressure of cost aspects, the largest risks that goods price faced with is still the oil price increasing.

    He was doubtful for whether the optimistic data in United States can continue or not and he also concerned the economy in Europe and Japan may performed weakly, which formed a burden on Korean economy that is export-oriented.

    Edited By Sarah

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