Tag: South Korea

South Korea inflation jumps to three-year high

South Korea inflation jumps to three-year high

Statistics Korea has today revealed South Koreaa��s inflation rate jumped to a three-year high of 5.3% in August as food costs continued to rise. The rate is up from 4.7% in July and represents the eighth consecutive month that inflation has been above the central banka��s target of 4%. Inflationary pressures are rife throughout the […]

September 1, 2011 More
Philippines economic growth slows in Q2

Philippines economic growth slows in Q2

The National Statistical Coordination Board has revealed the Philippine economy grew at an annual rate of 3.4% in the second quarter a�� slowing from an annual growth of 4.6% in the previous quarter. The expansion was less than the 4.4% expected by economists. Compared with the previous three months, the economy, which is South East […]

August 31, 2011 More
South Korean economy sees slowdown in Q2

South Korean economy sees slowdown in Q2

South Korea, which is Asiaa��s fourth largest economy, has experienced growth of 3.4% in the second quarter on an annual basis, down from 4.2% in the previous quarter, according to official data today. Meanwhile, quarter-on-quarter growth was 0.8%, down from 1.3% as exports slowed and manufacturing weakened. “Private consumption steadily increased and facilities investment rose. […]

July 27, 2011 More
South Korea holds interest rates despite rising inflation

South Korea holds interest rates despite rising inflation

South Koreaa��s central bank has today elected to hold interest rates for the second consecutive month despite rising inflation. The move surprised analysts who had forecast a 0.25% rise. The latest figures from Statistics Korea showed the consumer price index hit 4.2% in April on an annual basis. The rate is higher than the central […]

May 13, 2011 More
South Korean economy sees better than expected growth

South Korean economy sees better than expected growth

South Korea, which is Asia’s fourth largest economy, has experienced growth of 4.2% in the first quarter on an annual basis, according to official data today. The economy grew by 1.4% in the January to March quarter from the previous three months – the fastest rate in nine months. The better than expected growth was […]

April 27, 2011 More
South Korea lifts inflation forecast

South Korea lifts inflation forecast

The Bank of Korea has lifted its inflation forecast for the 2011 year as food and oil prices rise. Inflationary pressures are rife in Asia and many central banks have opted to hike interest rates in an attempt to combat rising prices. The latest figures from Statistics Korea showed the consumer price index rose by […]

April 13, 2011 More
South Korean inflation surges to 29-month high

South Korean inflation surges to 29-month high

Statistics Korea has today announced the inflation rate has jumped to a 29-month high a�� driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.7% in March on an annual basis. The rate is now at the higher end of the central banka��s 2%-4% target. On a […]

April 1, 2011 More
South Korea lifts rates to combat inflation

South Korea lifts rates to combat inflation

South Koreaa��s central bank has today elected to lift interest rates in order tame high inflation. The move did not come as a surprise to analysts after the bank lifted its main interest rate from 2.75% to 3%. Analysts believe more rate hikes are on the cards, with many predicting rates to be between 3.5% […]

March 10, 2011 More
South Korea industrial output hits 17-month high

South Korea industrial output hits 17-month high

Statistics Korea today said South Korea’s industrial output has expanded at its fastest pace since September 2009. Output grew by 4.6% in January compared with December, while on an annual basis, output grew by 13.7% – much higher than the 10.6% annual gain posted in December. The figures easily beat analysts expectations of a 1.4% […]

March 3, 2011 More
South Korean inflation surges to 27-month high

South Korean inflation surges to 27-month high

Statistics Korea has today announced the inflation rate has jumped to a 27-month high – driven by higher food and fuel costs. According to Statistics Korea, the consumer price index rose by 4.5% in February on an annual basis. The rate is now at the higher end of the central banka��s 2%-4% target. Analysts believe […]

March 2, 2011 More
South Korea holds interest rates despite inflationary pressures

South Korea holds interest rates despite inflationary pressures

South Korea’s central bank has elected to keep interest rates on hold despite rising inflation. The move surprised analysts who had expected a further rate rise after last montha��s increase to 2.75%. However, analysts believe rates will be increased next month, with many predicting rates to be between 3.5% and 3.75% by the end of […]

February 11, 2011 More
South Korea economic growth slows in Q4

South Korea economic growth slows in Q4

South Koreaa�?s economy, which is Asiaa��s fourth-largest, saw growth slow to 0.5% in the October to December period. Last year, the economy expanded strongly – boosted by exports and increasing consumption and facilities investment. However, retail spending and manufacturing and construction slowed, which was attributed to the slowdown. The Bank of Korea were optimistic about […]

January 26, 2011 More
G20 moves to resolve trade imbalances

G20 moves to resolve trade imbalances

The G20 group of nations have agreed to avoid “competitive devaluation” of currencies in what has been regarded as a tense summit in Seoul, South Korea. Most notably were the tensions between the US and China. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its […]

November 12, 2010 More
Mervyn King urges G20 leaders to stand firm over trade imbalances

Mervyn King urges G20 leaders to stand firm over trade imbalances

The Bank of England Governor, Mervyn King, is urging the group of G20 nations to address the issue of trade imbalances. His comments echoed those of the US who said it wants the G20 group of nations to agree to curtail a�?excessive imbalancesa�? in world trade. Mr King said: “We are very much in the […]

November 11, 2010 More
Tension mounts ahead of G20 summit in South Korea

Tension mounts ahead of G20 summit in South Korea

Several topics are set to be high on the agenda at todaya��s G20 gathering in South Korea. The group of G20 nations, which accounts for about 85% of the global economy, comprise the world’s 19 leading national economies (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, […]

G20 moves to prevent currency war

G20 moves to prevent currency war

A gathering of finance ministers and central bankers in Gyeongju, South Korea, has taken place this weekend and high on the agenda was the threat of a currency war. The currency issue was left unresolved earlier this month after the International Monetary Fund (IMF) and World Bank annual meeting in Washington failed to reach an […]

October 24, 2010 More
South Korea leaves interest rates on hold

South Korea leaves interest rates on hold

The Bank of Korea (BoK) has today opted to leave interest rates on hold at 2.25% – for the third consecutive month. The decision surprised many economists who had expected rates to be lifted to 2.5%. The central bank left interest rates at the record low 2% for 17 months following the global economic downturn […]

October 14, 2010 More
S.Korea economy expands 1.5% in Q2

S.Korea economy expands 1.5% in Q2

Figures today revealed South Korea’s economy grew by 1.5% in the second quarter compared with the first quarter – much faster than economists had expected. On an annual basis, the economy expanded by 7.2% and, according to the central bank, growth has returned to the pre-crisis level. According to economists, the level of growth could […]

China ranked bottom for ethical investment

China ranked bottom for ethical investment

Ethical investors looking to put money into emerging market economies should avoid China, Egypt and Vietnam, the Ethical Investment Research Service (Eiris) has claimed. Research by the group found these three countries to be the worst performers in terms of Environmental, Social, and Governance indicators. The three best-performing emerging market countries were South Korea, Brazil, […]

G20 nations address global economic issues

G20 nations address global economic issues

G20 finance ministers and central bank governors from the worlda��s top 20 developed and emerging economies have met in South Korea this weekend and have said excessive budget deficits should be dealt with immediately. The agenda was believed to be discussing the need for common standards across financial markets, including a global bank tax – […]