Monday 25 March 2019 ,
Monday 25 March 2019 ,
Latest News
  • 4 suffer bullets in Cox’s Bazar ‘UZ election clash’
  • Cop shot in attack at Chattogram polling station
  • Voting at all centres in Katiadi suspended over rigging
  • 3rd phase of UZ polls going on
  • Celebrated singer Shahnaz Rahmatullah passes away
1 December, 2017 00:00 00 AM
Print

S Korea raises interest rate for first time in six years

AFP

AFP, SEOUL:  South Korea yesterday lifted interest rates for the first time in more than six years, citing a strong economic recovery, and possibly leading the way for similar actions from other Asian central banks. The hike comes on the back of a series of upbeat readings on Asia’s number four economy that have seen the Bank of Korea and International Monetary Fund lift their growth forecasts and despite an increasingly belligerent Pyongyang.

The BoK lifted borrowing costs to 1.5 per cent, up 25 basis points and the first since June 2011, pointing to a “solid trend of domestic economic growth”, adding there have been moderate improvements in private consumption and strong growth in exports. “Regarding further rate hikes, we will thoroughly monitor the basic flow of growth and inflation,”

BOK Governor Lee Ju-Yeol told reporters. Yesterday’s announcement comes as central banks in Asia prepare for a run of increases by the Federal Reserve, which many fear could lead to a flood of cash leaving emerging economies as investors look for better and safer returns.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 54.6%
No 41.7%
No Comment 3.8%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
0102
03040506070809
10111213141516
17181920212223
24252627282930
31

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting