SEOUL : South Korea's central bank raised its benchmark rate back to where it was before the pandemic on Friday, seeking to restrain inflation and household debt growth as global policymakers move to end emergency stimulus to contain rapid consumer price rises.
Soaring inflation has been ramping up pressure on policy makers to act, as consumer inflation for the whole year of 2021 surged to 2.5per cent, the fastest since 2011 and outpacing the BOK's 2.3per cent projection made in November. Governor Lee Ju-yeol has said that a rate hike in the first quarter is possible if the current economic recovery remains on track.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea to deploy Pfizer COVID-19 pills as Omicron wave loomsSEOUL: South Korea will begin treating coronavirus patients with Pfizer\u0027s antiviral pills on Friday (Jan 14), health officials said, as concern mounts over the spread of the highly contagious Omicron variant. At least 21,000 of the pills, called Paxlovid, will arrive on Thursday and be sent out to about 28
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Commentary: Why a North Korean defected to South Korea then went homeGiven the discrimination and bullying North Korean defectors in South Korean face, it's no surprise that some rather tolerate poor living conditions in North Korea than endure more social stigmatisation in South Korea, says an international relations professor. Their spying mission was complete.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
South Korea to submit supplementary budget this monthSEOUL : South Korea's prime minister said on Friday the government will submit a supplementary budget to the national parliament aimed at boosting small firms and the self-employed before the country's Lunar New Year holiday from Jan. 31 to Feb. 2.'The country has decided to draw up a supplementary budget
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Trickle of humanitarian aid enters North Korea as border closure drags onSEOUL: After nearly two years of border closures to protect North Korea against the pandemic, some humanitarian aid is trickling into the country, though shipments of key supplies including food remain blocked, according to United Nations organisations. The United Nations children\u0027s agency UNICEF said this
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
S. Korea to deploy Pfizer Covid-19 pills as Omicron wave looms
Source: STForeignDesk - 🏆 4. / 71 Read more »
Biden imposes first sanctions over North Korea weapons program after missile testsWASHINGTON — The Biden administration on Wednesday (Jan 12) imposed its first sanctions over North Korea's weapons programs following a series of North Korean missile launches, including two since last week.
Source: TODAYonline - 🏆 1. / 99 Read more »