South Korea holds rates amid growth risks, trade tensions
SEOUL (Oct 18): South Korea’s central bank kept monetary policy steady on Thursday for a seventh straight meeting, as it assessed new signs of softness in the economy and the potential fallout from global trade frictions.
The Bank of Korea decided to keep its benchmark seven-day repurchase rate KROCRT=ECI at 1.50 percent, as expected by 14 of 21 economists in a Reuters poll.
After the BOK decision, the won KRWE=KFTC fell 0.43 percent against the dollar while the KOSPI .KS11 fell 0.16 percent. December futures on three-year treasury bonds KTBc1 gained 0.05 points to 108.52.
KUALA LUMPUR (Nov 16): Bank Negara Malaysia (BNM) expects the ringgit to continue to depreciate against the US dollar next year, as the greenback continues to grow stronger and also due to other external uncertainties.
The central bank's Governor, Datuk Nor Shamsiah Mohd Yunus, said the ringgit depreciated by 2.5% against the US dollar in the third quarter of this year. Year-to-date, the local currency has fallen 3.35% to the US dollar.
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