InfoAnda - Bank of Korea lifts rates; more hikes expected

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Aquino wins Philippine presidential election | 8 June 2010
An app that lets you text like the Queen | | 4 June 2012
Myanmar court hands comedian 45-year prison term | 21 November 2008

Music magazine Paste begs readers for bailout | Entertainment | | 19 May 2009

Forum Views () Forum Replies ()

Read more with google mobile : Bank of Korea lifts rates; more hikes expected

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Bank of Korea lifts rates; more hikes expected Reuters - 2 hours 55 minutes ago Send IM Story Print * Main rate up by 25 bps, most analysts saw no change * Central bank says growth solid, inflation to pick up * Says risks from global markets, economy not serious * Bond futures fall, won rises, stock prices steady * Analysts expect more rate increases by around 50 bps By Kim Yeon-hee and Yoo Choonsik SEOUL, July 9 - The Bank of Korea raised interest rates on Friday for the first time since the outbreak of the financial crisis and cemented market expectations of more tightening by predicting solid growth and higher inflation ahead. The central bank lifted its base rate by 25 basis points from a record low of 2.0 percent, joining regional peers from Australia, to India, Taiwan and Malaysia in the campaign to return policy to pre-crisis mode. Investors have been pricing in a rate rise for several weeks given signs of authorities' growing confidence that Asia's fourth-largest economy can sustain its recovery, despite lingering doubts about the outlook for U.S. and European economies. However, most analysts polled by Reuters had expected a move either in August or September and bond futures <0#KTB:> fell sharply right after the decision, though later recovered much of the losses. The won <KRW=> extended gains to more than 1 percent on the day against the dollar. Stock prices <.KS11> were little changed. "It appears that policymakers across Asia are reasonably confident about the economic outlook despite concerns about the potential impact of euro area weakness and a near-term dip in growth from the fast pace set earlier this year," said Brian Jackson, senior emerging markets strategist at Royal Bank of Canada in Hong Kong. "We forecast the Bank of Korea to hike rates another 50 basis points by the end of the year, with risks increasingly skewed to the upside." <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Reuters poll before meeting [ID:nTOE66504D] Graphic on interest rate and inflation trends: http://graphics.thomsonreuters.com/10/KR_RTS0710.gif Collection of analysts' comments [ID:nTOE66504J] Full text of central bank statements [ID:nTOE66802P] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> Bank of Korea Governor Kim Choong-soo told reporters the economy probably expanded by more than 7 percent from a year earlier in the second quarter and the whole of the first half, another sign of solid recovery from the global slump. He also said annual inflation was set to exceed the 3 percent mid-point of the central bank's 2-4 percent target range next year, which markets took as a hint the central bank would bring rates closer to 3 percent by the end of the year. He also noted a sharp rise in mortgage lending in June after a period of subdued growth. "There's no doubt that the base rate of 2 percent was very low when taking into account various factors such as economic growth and inflation prospects." Kim said. Kim voiced optimism that the global economy would continue to grow, but singled out Europe's fiscal problems as the main risk and said more financial market turbulence was possible. This, combined with assurances that even after this week's rate rise monetary policy would remain accommodative, suggested that any further tightening would be cautious. "As the base rate is still very low and the pace of tightening is very gradual, it is supportive for the economy and the impact on the market won't be negative," said Lee Sung-kwon, economist at Shinhan Investment Corporation. Since mid-April, world financial markets have been dogged by concerns about the impact of Europe's austerity drive on global growth and fears that recovery from the worst economic downturn in decades may stall and lead to a double-dip recession. This week's move was the first rate rise since August 2008 and the first rate change since early last year when the central bank finished its easing campaign that shaved off a total of 325 basis points of its benchmark rate. Recommend Send IM Story Print Related Articles GLOBAL MARKETS-Asia shares up after US data;euro near 2-mth peak Reuters - 20 minutes ago Peugeot, Changan to sign China JV deal - source Reuters - 26 minutes ago Moody's assigns A3 rating to Li & Fung's USD bonds Reuters - 32 minutes ago Indonesia c.bank deputy: no need to change rates now Reuters - 32 minutes ago Car-finance firm plans bond issue in China -source Reuters - 34 minutes ago News Search Top Stories Actor Ed Norton named UN biodiversity ambassador Eurostar Paris-London service closes over safety fears US, Russia swap 10 Kremlin agents for 4 Western spies Airbus submits bid for US military mega-project IMF presses US to cut debt More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Germany's 'Octopus oracle' keeps perfect record IMF's global growth forecast amid financial shocks Hollywood star Lindsay Lohan jailed for 90 days German industry hit by sudden fall in orders Paris Hilton arrested after Brazil World Cup match: reports More Most Viewed » Reclusive top mathematician turns down prize, again Germany's 'Octopus oracle' keeps perfect record Aussie men shoot each other in buttocks 'to see if it hurts' Amputee cat gets bionic legs Fans gather for Michael Jackson death anniversary More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Friday, 9 July 2010
Iran leader says sanctions will not slow atom work
Obama urges Israel to seize chance for peace
Campaign launched against Comcast-NBC Universal deal
US to deliver billions in equipment to tackle Afghan bombs
US-TECH Summary
News
IMF presses US to cut debt
Cable companies, networks mull smaller TV bundles
Graft fears as massive cash sums fly out of Kabul: WSJ
Iran leader says sanctions will not slow atom work |
Pakistan busts gang of website hackers: official
Israel images 'show Hezbollah hiding arms'
Chechnya's leader hails paintball attacks on women |
News
Mauritania adopts new anti-terrorism law |
France, Netherlands seek to halt Internet censorship
Obama sees Turkey turning eastward if snubbed by EU
U.S., UK urge Iran halt stoning execution |
In Iraq, "young American male" yearns for action
Cuban dissident said to have ended hunger strike |
News
Drug war hits Mexico's richest city |
US to spend $3B to combat Afghan homemade bombs
Ishikawa thrilled with opening 67
2 NATO troops and Afghan police official killed
Indonesian anti-graft activist attacked
Hong Kong police smash large cross-border gambling ring
News
Catholic priest, nun murdered in China
Europe to give US access to bank data for terror probes
News
Cable companies, networks mull smaller TV bundles |
A Minute With: Jane Lynch on her Glee-filled year |
HBO dominates Emmy nods for 10th straight year |
Katy Perry, Eminem lead U.S. singles chart again |
Bomb kills NATO soldier in Afghanistan
Eurostar resumes London-Paris train service
U.S. and Russia to swap spies after 10 plead guilty |
Fujitsu: acquisition targets include software firms
News
Iran will not stone woman to death after outcry
US swaps 10 Russian spies for 4 'agents' held by Moscow
Australia halts web filter plan ahead of polls
Ahmadinejad says sanctions will not alter nuclear drive
Eurostar Paris-London service closes over safety fears
Ten Russian spies leave US after swap deal: report
Mattis named overall US commander of Iraq, Afghan wars
Venezuela nabs 2 for trying to 'Twitter' a run on banks
US, Russia swap 10 Kremlin agents for 4 Western spies
Cuba dissident ends hunger strike
U.S. eavesdropping agency says Private Citizen is purely R&D
Cuba takes first steps toward prisoner release |
News
Turkey still sees chance of Iran nuclear fuel swap deal
Suicide bomb kills 20 in NW Pakistan |
Venezuela arrests two for banking rumor Tweets
Japan PM party may miss vote target |
PayPal, Tesla founder goes public on divorce
China finds fresh trade in toxic milk powder: report |
Russia to free four Western spies for its agents
Fear belies Pakistan boasts of becalmed borderlands |
Slovak president appoints liberal Radicova as PM
U.N. council draft condemns attack on South Korean ship |
Cuba dissident Farinas ends hunger strike: opposition
Russia's Medvedev pardons four jailed spies
U.S. and Russia to swap spies after 10 plead guilty
Presbyterians split on gay-friendly measures
Pakistan bomb attack kills 12, wounds 90
Bangladesh bans religious punishments
Australia backs away from Timor refugee plan
Suicide bomb kills 20 in NorthWest Pakistan
Google confident of getting China web license |
Singer Coco set to step out of father's shadow
Watchdog slams Thai army, protesters over casualties
U.S. eavesdropping agency says Private Citizen is purely R&D |
Whose Emmy strategies worked, and whose didn't?
S.Africans favour 'orange' World Cup final
Anti-UN minister presses on with hunger strike
US-ENTERTAINMENT Summary
Venezuela arrests two for banking rumor Tweets |
U.N. response on South Korea ship raises calls for North talks
Drake NY concert cancelled after security concerns
China seizes melamine-tainted milk powder
Fujitsu: acquisition targets include software firms |
South Africa's Bushmen try to adapt to modern life
Google confident China will renew licence
Rookie series rock the Emmys
Seoul shares rise as investors welcome rate hike
Japan PM party may miss vote target, policy at risk
"Inception" is no dream for marketers
South Korea unexpectedly raises key interest rate
Taiwan forecasts GDP, jobs rise from China pact
Winners and losers emerge at summer box office midpoint
Pakistan c.bank sells 10 bln rupees of T-bills in repo
News
Bank of Korea lifts rates; more hikes expected
PAKISTAN
News
US avoids labeling China currency manipulator
Seoul shares open up on U.S. gains, techs
World Bank approves $6.2 bln Pakistan lending plan
Police probe claims Gibson abused ex-girlfriend |
Fresh faces add zest to Emmy nominations |
Drake NY concert cancelled after security concerns |
Whose Emmy strategies worked, and whose didn't? |
Inception is no dream for marketers |
Winners and losers emerge at summer box office midpoint |
Scorsese sued by receiver for celebrity money man |
Italian media on strike over bill to curb wiretapping
Iran 'yet to confirm' woman's stoning stay: lawyer
Google says China has renewed its operating licence
Russia, U.S. swap 14 spies in Cold War-style exchange |
Gameworld: Motion games broaden uses beyond exercise
'Miscommunication' behind Afghan friendly fire deaths
Greece to auction 1.25bln euros of debt: officials
Amid gunfire, U.S. troops try to bring governance to Kandahar |
British soldier killed in Afghanistan
Google's Schmidt undaunted by Apple or Facebook
Suicide bomber kills five in Baghdad: ministry
U.N. council draft condemns attack on South Korean ship |
Google to resume gathering map data in 4 countries
West uses e-networking to subvert China: Study
India and Pakistan in first substantive talks since Mumbai |
Fujitsu plans to beef up cloud computing business
Aid ship to sail from Greece for blockaded Gaza |
Italian journalists strike over Berlusconi law |
Taliban commander captured as US raids intensify
Bettencourt affair heats up with raids, reports |
Sri Lanka war crimes rift with U.N. widens over protests |
K.Rouge prison chief sacks his international lawyer
Russia and U.S. swap 14 spies in Cold War-style exchange
N.Zealand anti-whaling activist deported from Japan
DOJ reviews Mass. rulings on fed gay marriage ban
Ex-officer convicted in Calif. train killing
Suicide attack kills 65 in Pakistan tribal belt
Gameworld: Motion games broaden uses beyond exercise |
Presbyterians split on gay-friendly measures
Google says China has renewed its operating licence
Online news site leads charge in French scandal |
Emmy snubs! Master grouse list
Thai PM plans first Myanmar visit next month
Google's Schmidt undaunted by Apple or Facebook |
Helicopters revolutionise mountain rescue in Nepal
Chinese monk held for murder of priest and nun
Al-Qaeda: poor Yemeni town cursed by its name
Google to resume gathering map data in 4 countries |
North Korea says jailed American attempted suicide
Fujitsu plans to beef up cloud computing business |
Pakistani rupee eases to new low; stocks post gains
Asia markets edge higher on US, Europe lead
India expects bumper harvest to ease prices: minister
Peugeot Citroen announces China joint venture
WRAPUP 1-S.Korea surprises with rate rise, more to come
China auto sales up nearly 50% in first half: report
Japan's DoCoMo plans new app platform for phones
Emmy snubs! Master grouse list |
Keeping up with self-made star Kim Kardashian |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01