InfoAnda - WRAPUP 2-South Korea says economic support has to stay

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

Australia's Gillard inches closer to power | 2 September 2010
Karzai, MPs 'strike Afghan parliament opening deal' | 23 January 2011
Lowe's Q1 Profit Tops Estimates, Guidance Disappoints | 18 May 2010

Pakistan c.bank sells 1 bln rupees of T-bills | 25 July 2009

Forum Views () Forum Replies ()

Read more with google mobile : WRAPUP 2-South Korea says economic support has to stay

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: WRAPUP 2-South Korea says economic support has to stay Reuters - Wednesday, September 16 * President says stimulus to stay for a while ADVERTISEMENT * Officials want jobs, investment recovery * C.bank seen having room to move on interest rates * Finance Ministry sees little problem with stronger won By Jonathan Thatcher SEOUL, Sept 15 - Top South Korean officials said on Tuesday that stimulus measures should not be discarded until the economy is in much better shape, although there looks to be grudging acceptance interest rates will have to go up soon. The Bank of Korea signalled last week it would lift interest rates if house prices climbed much more, boosting bets it could move as early as November and become the first G20 central bank to tighten since the global financial crisis. But President Lee Myung-bak, who came to power some 19 months ago with the promise of rapid economic growth, said many past examples showed that moving too fast to phase out stimulus measures only caused further crises. "I believe we should remain careful the exit strategy until the second half of this year or the first half of next year," Yonhap news agency quoted him as saying. Vice Finance Minister Hur Kyung-wook said in an interview with Reuters Television that he needed to be much more confident the economy was pulling ahead under its own steam before ending the most lavish fiscal spending in South Korea's history, brought in to counter the global downturn. "South Korea has a very robust economic recovery. The problem is much of that growth is from the public sector. What I would like to see is a clearer sign that the private sector is recovering, is leading the recovery," Hur said. "I would like to see genuine job creation by the private sector as well as investment. Those two things are the key indicators before ... the Korean government will decide whether this is a good time to put in the exit strategy." BETS ON INTEREST RATE RISE Despite the caution, many in the market are betting that one of the key defence measures used by the authorities -- low interest rates -- will start to tighten later this year or early in 2010 to prevent potential overheating in the domestic economy, especially in the property market. Short-term funding rates firmed to their highest since mid-February, with the 91-day certificate of deposit (CD> rate <KRCD=KQ> rising 1 basis point to 2.62 percent as of 0230 GMT. The central bank's policy rate is a record low of 2.0 percent. In a signal of longer-term rate hike expectations, the spread between the short-term CD rate and one-year interest rate swaps <KRQMCD1Y=KMBC> widened further. "What we're seeing now is the beginning of the divergence between the inflation-mindful central bank and the growth-focused government as the crisis is over," said Park Tae-keun, a fixed-income analyst at Hanwha Securities. "With the economy showing remarkable resilience and the property market bubbling up, the government could no longer keep a tight lid on rates and markets are gearing up for rate hikes of up to 50 basis points by the end of this year," he said. By late August, apartment prices across the country had risen for the 12th consecutive week and at their fastest weekly rate in 16 months. Analysts say the central bank is worried that the rise in house prices -- fuelled by a wave of liquidity pumped into the economy when the global crisis was biting hard -- could distort any economic recovery if it turns into an asset bubble. Vice Minister Hur all but acknowledged the central bank was ready to raise rates though, in deference to the Bank of Korea's independence, was careful not to express any view on the timing. After last week's decision to keep interest rates at 2.0 percent for the seventh straight month, there have been signs the central bank, worried more by housing prices than consumer inflation, is readying to push rates back up. Governor Lee Seong-tae said last week that if there was a rate rise it would not mean an end to the easy monetary policy that has come with successive policy rate cuts from 5.25 percent last October at the height of the global economic slump. [ID:nSEO269632] "I think what the governor mentioned is that at the beginning of the crisis ... was 5.25 percent ... now it's 2 percent. So he has ample range to play with," Hur said. LITTLE HARM STRONG WON Commenting on the recent strength in the won <KRW=>, an early victim when the global crisis erupted a year ago, against the dollar, Hur saw little impact on the economy. "Even though the won is strengthening, if other currencies are strengthening at the same time, perhaps it does not hurt your competitiveness that much," he said. South Korean exports were increasingly diversified and had strong brand recognition and were not driven just by pricing, he added. But currency traders said they spotted intervention by the authorities after the won hit a six-week high against the dollar And local share prices closed at their highest in 14 months. [ID:nSEO212059] The government has long argued that it only tries to prevent too sharp movements in rates rather than change direction. Some traders said they expect the authorities will allow the won to rise more if the dollar continues to droop. (Additional reporting by Cheon Jong-woo, Lee Soo-jung and Seo Eun-kyung, Editing by Dean Yates) Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business Coca-Cola says 2nd ex-employee in China detainedAP - 2 hours 34 minutes ago Best Buy 2Q misses expectations; raises guidanceAP - 2 hours 38 minutes ago Kazakh economy needs more state aid - bankerReuters - 2 hours 52 minutes ago India bond yields at 1-mth low on cbank commentsReuters - 2 hours 54 minutes ago India wants measured capital flows: Cbank headReuters - 2 hours 58 minutes ago Most Popular – Business Viewed Mafia sank boat with radioactive waste: official Depression harms cancer survival rates: study Remains of Jesus-era synagogue found in Israel Obama lashes out at Wall Street Nestle warns of possible exit from Switzerland View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Tuesday, 15 September 2009
Bagram inmates can challenge detention: Pentagon
Europe to emerge from recession in 3rd qtr, says EU
US-TECH Summary
Intel restructures, senior exec leaves for EMC
Netanyahu: no complete West Bank building freeze
sells stake in Alibaba.com for 150 mln dlrs
Venezuela inks $2.2 bln weapons deal with Russia
Intuit buying Mint.com for 170 mln dlrs
Kissing quest makes Taiwan woman a web sensation
Norway left wins rare re-election: exit polls | International |
Iraqi court orders the release of Bush shoe thrower
Public trust in US media eroding: Pew study
U.S. behind attack on militant in Somalia: U.S. sources | International |
Web TV firm Joost ousts Chairman Mike Volpi
Student leader in dock as Iran resumes protesters' trial
Top U.N official to visit Sri Lanka, discuss refugees | International |
Dalai Lama briefed about US approach to Tibet
Obama touts Wall St. changes on Lehman anniversary
U.S. NATO envoy says Europeans firm on Afghanistan
Dalai Lama hopes to meet Obama in Nov: statement
Harkin: `Silent majority' back health care reform
Myanmar politicians' kin set to join new party
Obama urges financial industry to rebuild trust
Taiwan coast guard alerted after Japan nabs skipper
US joins UN rights council as member for 1st time
Outgoing Japan PM bids successor 'good luck'
Inspiration for movie 'Norma Rae' dies at 68
Regulators: accounting changes need global reach
New Islamic law in Indonesia's Aceh province
Obama: Some Wall St. firms ignoring Lehman lessons
Classes resume in riot-turn city of Urumqi, China
Indonesia's Aceh passes law on stoning to death
Tenn. ash spill community getting $40M from TVA
China lodges complaint at WTO over US tyre tariffs
Man accused of attacking mayor pleads insanity
Japanese high-tech giants in cellphone merger
Turkmenistan, Russia's Itera sign energy deal
New film Precious gets big push from Oprah | Entertainment |
Whitney Houston says mom rescued her from drugs | Entertainment |
Correction: Oprah Winfrey story
Winfrey, Tyler Perry push new film `Precious'
'Big Brother' reunion won't have booted contestant
Rocker Juanes' wife gives birth to son in Miami
Apocalypse now? Dark visions at Toronto film festival | Entertainment |
'Shakespeare in Love' set to be reborn as theater
World celebrities sing to stop global warming
Intel restructures, senior exec leaves for EMC
Mafia sank boat with radioactive waste: official
Iran agrees date for nuclear talks in move welcomed by US
Top al Qaeda militant killed in Somalia | International |
Europe to emerge from recession in 3rd qtr, says EU
U.S. senator promises look into cellphone-cancer link
Iran agrees date for nuclear talks in move welcomed by US
Magna says to cut 10,500 jobs at Opel
Iranian conservative harshly criticises regime
U.S. envoy meets Netanyahu over settlement freeze | International |
Broadcom files patent infringement suit against Emulex
Iran's talks with world powers to start next month
Chile to adopt Japanese digital TV standard: Bachelet
Netanyahu says won't freeze building in settlements
Microsoft testing 'Visual Search'
Obama lashes out at Wall Street
Japan cabinet takes shape, Fujii for finance: media | International |
New York Times warns readers of website virus
Norway's Stoltenberg set to stay in power | International |
UK's Conservatives have 14 point lead: poll | International |
U.S. concerned over Venezuela-Russia arms deal | International |
U.N. assembly votes for more powerful women's agency | International |
Swiss watchdog threatens to sue Google over Street View
US military deaths in Iraq war at 4,344
US military deaths in Afghanistan region at 752
HP shows off new ultra-thin PCs, stylish netbook | Technology |
Calif. judge gives ex assistant sheriff 27 months
DC subway worker dies after hit by train last week
3 New York residences raided in terrorism probe
Obama admin fights Bagram detainee court access
Rules on Wilson's outburst open to interpretation
U of Illinois faculty back leaders' ouster
Koreas exchange lists of families separated by war
U.S. senator promises look into cellphone-cancer link | Technology |
APNewsBreak: Report says punishment led to killing
Japan cabinet takes shape, Fujii for finance
Defense: Brooke Astor was lucid when changing will
Taiwan sub skipper falls overboard during training
Conservationists say 70 dolphins in Japan released
Classes resume after China syringe attacks
4th Guantanamo detainee agrees to move to Palau
Indonesia's Aceh to allow stoning for adulterers
Malaysian judge hands out 2nd caning for alcohol
Missile kills 4 in Pakistan; 18 die in stampede
US turns over seized prehistoric relics to China
Offshore holdings of NZ govt rise in August
S.Korea T-bonds inch up; eyes on jobs data
Actor Patrick Swayze dead at 57
Seoul shares gain as shipbuilders rally;techs down
S.Korea regulator calls for careful exit
Patrick Swayze dead at 57: report
US seeks fresh look at SKorea auto imports
Lowe, Garner blast Kanye West and 'You lie!' lawmaker
Dirty Dancing star Patrick Swayze dead at 57 | Entertainment |
Leno launches U.S. prime-time television experiment | Entertainment |
Toyota says European demand won't recover till mid-2010
Venice Fest short on prizes for local fare | Entertainment |
AES shares rise on report of China interest
Whitney Houston says husband painted evil eyes in house | Entertainment |
Lame? Seinfeld stars reunite after 11 years | Entertainment |
Kanye West taking time off after debacle | Entertainment |
Keanu Reeves hams it up as webisode star | Entertainment |
Quentin Tarantino to open Mexican film festival
Actor Patrick Swayze dead at 57
Kiefer Sutherland to head new acting school | Entertainment |
New suspect emerges in possible Brian Jones murder
New suspect emerges in possible Brian Jones murder | Entertainment |
Marc Jacobs leads pack at NY Fashion Week
New suspect emerges in possible Brian Jones murder | Entertainment |
Neil Young taps No Doubt, Chris Martin for benefit
Film star Patrick Swayze dead at 57: reports
Whitney Houston says husband painted evil eyes in house
Lowe, Garner blast Kanye West and 'You lie!' lawmaker
Music world slams Kanye West over awards outburst
Rapper Kanye West taking time off after debacle
Recounts due at 10% of Afghan polling stations
Brown seeks to reassure unions before election
Google launches online news reader 'Fast Flip'
Obama lashes out at Wall Street
Iraqi who threw shoes at Bush released from jail | International |
Iraqi shoe thrower released; says he was tortured
Iran says lays ground for more cooperation with IAEA | International |
'Dirty Dancing' star Patrick Swayze dead at 57
Afghan recount to cover 10 percent of polling stations | International |
Iran nuclear talks probably in Turkey: Solana
One in six Mediterranean mammals face extinction
China says 75 suspects held over far-west needle scare | International |
Recounts at 10 percent of Afghan polling stations
Russia's Medvedev says may run in 2012 vote: reports | International |
Iran talks likely in Turkey
Chinese schools quietly discard controversial Web filter | International |
US lawmakers to quiz military chief on Afghan war
Bagram inmates win right to challenge detention
No more reckless behavior: Obama warns Wall Street
Chinese schools quietly discard controversial Web filter | Technology |
Scientists find virtual reality helps relieve pain | Technology |
Police: College student kills intruder with sword
Plane crash plotter to appear in Indiana court
A paw and a prayer: Pilots save shelter animals
Obama back on the economy
The Nation's weather
Rights group suspends analyst over Nazi collection
Philippine July remittances surge to 9.3 percent
Iraq shoe-thrower freed, accuses guards of torture
China wants action on IMF at G-20 summit
Pakistan foreign investment falls 36 pct in July-Aug
Taiwan dollar rises on stocks, c.bank caps gains
Japan airline to cut 6,800 jobs and seek tie-up
WRAPUP 2-South Korea says economic support has to stay
San Miguel seeks new business opportunities
SLanka foreign reserves record high: central bank
Seoul shares hit 14-mth closing high; banks gain =2
Prince Harry turns 25
Taiwan's Formosa Plastics plans huge Vietnam port
Dan Brown returns after 6 year wait
Aussie rocker Garrett won't join climate change song
Ukraine dismisses Elton John's adoption bid
Marvel vs. Disney: Two very different Americas
Rightwing Czech hate groups target Roma: report
Indonesia flash floods kill 38: official
No drugs please, we're Singaporean goths
Indonesian rights groups condemn new stoning law
Freemasons hail Dan Brown's latest novel as good fun | Entertainment |
Leno launches U.S. prime-time television experiment
Flash floods hit Indonesian village, 25 missing
'Dirty Dancing' star Patrick Swayze dies at 57
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	VPN on MacOSX	BlogMeter 1.01