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Finance

Economy

Wed, July 6, 2022 | 03:13

BOK ready to take measures amid market turmoil

The central bank said Tuesday it plans to "actively" take steps to stabilize the financial market that has been hit hard by fears about more aggressive rate hikes by the U.S. Federal Reserve than had previously been thought.

2022-06-14 10:08

S&P 500 confirms bear market as recession worry grows

Time to embrace possible Korea-US interest rate gap reversal: experts

As 40-year-high inflation in the United States is fueling bets on the U.S. Federal Reserve's sharper-than-expected hike in its benchmark interest rate, the possibility of a reversal of the interest rate gap between the U.S. and Korea is higher than ever. Experts urge Korea to embrace that possibility gradually rather than taking excessive countermeasures to prevent it from ha...

Yi Whan-woo | 2022-06-13 16:26

Ruling party considering enacting law on blockchain platforms to regulate cryptocurrencies

The ruling People Power Party (PPP) is considering enacting a law on blockchain-based platforms to better regulate cryptocurrencies and protect investors, the party's chief policymaker said Monday.

2022-06-13 16:23

Korea to take action against won's excessive volatility

The foreign exchange authorities here said Monday they were closely monitoring the foreign exchange market as the Korean currency has shown excessive volatility.

2022-06-13 16:07

Korea faces tough time curbing surge in government debt

Major advanced economies succeeded in decreasing government debt ratios last year, but Korea is seeing the ratio surge despite a huge increase in tax revenues. According to Organization for Economic Cooperation and Development (OECD) data, all of the G7 countries - the U.S., the U.K., France, Germany, Japan, Canada and Italy - saw a decline in the ratio of government debt to ...

Yoon Ja-young | 2022-06-13 16:01

Exports down 12.7% during first 10 days of June

Korea's exports fell 12.7 percent year-on-year in the first 10 days of June due largely to fewer working days, data showed Monday.

2022-06-13 09:46

Fears loom over twin deficits, stagflation

Fears loom over twin deficits, stagflation

The Korean economy faces heightened risk after the country reported a current account deficit this April for the first time in two years. Coupled with a years-long deficit in the consolidated fiscal balance, these twin deficits are feared to take a heavy toll on the economy. Other risk factors, such as rising inflationary pressure and the soaring won-dollar exchange rate, wil...

Lee Min-hyung | 2022-06-12 16:29

Exports down 12.7% during first 10 days of June

US inflation hit a new 40-year high last month of 8.6%

The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.

2022-06-10 21:53

Rhee stresses central banks' role as inflation fighters, hints at additional hikes

Bank of Korea (BOK) Governor Rhee Chang-yong underscored the role of central banks as inflation fighters, Friday, warning that inflation could worsen if countermeasures are not taken in a timely manner. He implied that the BOK might raise the benchmark interest rate again in July and August, following five other pandemic-era rate hikes that have been carried out since August ...

Yi Whan-woo | 2022-06-10 16:21

ECB signals rates lift-off, eyes bigger move in September

The European Central Bank ended a long-running stimulus scheme Thursday and said it would deliver its first interest rate hike since 2011 next month, followed by a potentially larger move in September. With inflation at a record-high 8.1 percent and still rising, the ECB now fears that price growth is broadening out and could morph into a hard-to-break wage-price spiral, hera...

2022-06-10 14:53

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