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Bank of Korea (side) in Seoul on December 28, 2024.
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The Central Bank of South Korea has held its political rate By 2.75% on Thursday, as it is aimed at attracting its currency, even if it warned that growth is likely to miss its previous forecast.
This was in accordance with the Reuters economists poll, which predicts the bank to keep the rates unchanged.
A Korean Bank said in its statement of monetary policy The decision was made to make it still evaluated any changes in internal and external conditions.
This was due to the high uncertainty against its economic worldview due to changes in US tariff policy and implementation of state incentives.
April 15 South Korean government amounted to 12 trillion ($ 8.45 billion) Increased support for the country’s critical semiconductor.
The side also said that “it is necessary to remain cautious about the influence of the increased volatility of the exchange rate, as well as the possibility of rebounding the debt on households under the monetary.”
On April 3 in Asia, US President Donald Trump’s Day “Liberation Day” in Asia saw that the South Koreans defeated Whiplash.
On April 4, it first intensified to reach the then week of 1429.52 to the dollar, April 4, Before weakening sharply to reach the 16-year maximum 1487.3 9, Before strengthening again to reach the minimum 1411.39 on April 16, its lowest against the green appeal since December 2024.
The side noted that domestic economic growth was weaker than expected, as domestic demand and exports slowed down from long political uncertainty and worsening conditions of trade. GDP growth is expected to fall below February 1.5%.
The side stated that he would continue to support the “rates’ position” and will adjust the terms and pace of any further cuts depending on his internal and foreign political environment.
US tariffs and presidential elections ahead
The decision comes when the country also fights tariffs in the United States and prepares for the removable presidential election.
Tuesday Minister of Finance South Korea As reportedly, Cho Sang Mock told Parliament that the country will seek to delay the tariff implementation as long as possible in negotiations with the US
Choi also said it should help reduce the uncertainty faced by South Korean enterprises in the world markets, Reuters reports.
South Korea suffered from 25% of cars, as well as on steel and aluminum. Hyundai and Kia South Korea are some of the The eight best brands sold In the US, and the country – the fourth -largest exporter for the US
Asia’s fourth largest economy was also affected by 25% of the “return” tariff by US President Donald Trump, although it was rejected for 90 days outside 10% of the base tariff.
This step also comes when South Korea goes to the polls to select a new president on June 3, after Yon Suka Yole Removed from post on 4 April On the occasion of his brief declaration of martial law in December.
In the country Kospi The stock index grew by 0.56% after announcement while win weakened 0.58% for trading in 1422 to the dollar.
