This photograph taken on Nov. 24, 2022 reveals the constructing of Financial institution of Korea BOK in Seoul, South Korea. South Korea’s central financial institution on Thursday raised its coverage price to curb inflation, delivering six back-to-back price hikes for the primary time. (Picture by Wang Yiliang/Xinhua through Getty Photographs)
Wang Yiliang | Xinhua Information Company | Getty Photographs
South Korea’s central financial institution held its coverage price at 2.5%, holding it regular at an virtually three-year low.
South Korea’s economic system contracted by 0.2% quarter on quarter within the first three months of this yr as a consequence of weak building exercise and softening export progress, whereas it remained flat on an yr on yr foundation.
South Korea’s Kospi was up 0.74%, whereas the received strengthened marginally to commerce at 1,372.48 in opposition to the greenback.
The nation can be faces the specter of additional financial headwinds after U.S. President Donald Trump threatened to impose 25% tariffs on all South Korean imports in his first batch of “tariff letters.”
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