S. Korea central bank member affirms tightening outlook, notes downside risks
Wednesday, July 27, 2022
© Reuters. The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji SEOUL (Reuters) - A South Korean central-bank board member affirmed on Wednesday that interest rates should rise further but added that increases should be gradual, since downside risks to both exports and consumer spending had risen.
The central bank "needs to keep its rate-raising stance for the time being, because long-term rates, based on inflation expectations, are estimated to be below the neutral level," Suh Young-kyung, one of the Bank of Korea's six policy-board members, said at a lecture.
Suh gave no estimates for either real (inflation-adjusted) long-term interest rates or the neutral interest rate, at which the central bank would be neither stimulating nor restraining the economy.
The Bank of Korea has lifted its policy interest rate by a total of 1.75 percentage points since August. That has included a bigger-than-usual 0.5 point hike to 2.25% this month, when the governor said more rises were to come.
Suh said the country's annual inflation rate would probably reach its peak during the current quarter then ease gradually. At some point, annual inflation would exceed 6% and it would certainly stay above 3% next year, she added.
Consumer prices in June were 6.0% higher than a year earlier.
Downside risks to both exports and consumer spending had increased, Suh said, citing such factors as the effects of past interest rate rises on asset prices and disposable income.
A prepared text of her remarks was given to reporters before she spoke.
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| EUR/USD | 1.0261 | ↑ Buy | |||
| GBP/USD | 1.2135 | ↑ Sell | |||
| USD/JPY | 133.46 | ↑ Sell | |||
| AUD/USD | 0.7121 | ↑ Sell | |||
| USD/CAD | 1.2774 | ↑ Buy | |||
| EUR/JPY | 136.93 | Sell | |||
| EUR/CHF | 0.9659 | ↑ Sell |
| Gold | 1,818.40 | ↑ Buy | |||
| Silver | 20.835 | ↑ Buy | |||
| Copper | 3.6783 | ↑ Buy | |||
| Crude Oil WTI | 91.88 | ↑ Buy | |||
| Brent Oil | 98.01 | Buy | |||
| Natural Gas | 8.780 | ↑ Buy | |||
| US Coffee C | 227.53 | ↑ Buy |
| Euro Stoxx 50 | 3,776.81 | Sell | |||
| S&P 500 | 4,280.15 | ↑ Buy | |||
| DAX | 13,795.85 | Neutral | |||
| FTSE 100 | 7,500.89 | Neutral | |||
| Hang Seng | 20,175.62 | ↑ Buy | |||
| Small Cap 2000 | 2,013.09 | ↑ Buy | |||
| IBEX 35 | 8,400.40 | ↑ Sell |
| BASF | 44.155 | ↑ Buy | |||
| Bayer | 54.15 | ↑ Buy | |||
| Allianz | 181.08 | ↑ Sell | |||
| Adidas | 173.20 | ↑ Buy | |||
| Lufthansa | 6.588 | ↑ Sell | |||
| Siemens AG | 111.84 | ↑ Sell | |||
| Deutsche Bank AG | 9.061 | ↑ Buy |
| Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
|---|---|
| SJC Eximbank | 6,620/ 6,720 (0/ 0) # 1,655 |
| SJC HCM | 6,660 / 6,760 (30 / 30) # 1,651 |
| SJC Hanoi | 6,660/ 6,762 (30 / 30) # 1,653 |
| SJC Danang | 6,660/ 6,762 (30 / 30) # 1,653 |
| SJC Nhatrang | 6,660/ 6,762 (30 / 30) # 1,653 |
| SJC Cantho | 6,660/ 6,762 (30 / 30) # 1,653 |
| Cập nhật 13-08-2022 16:51:41 | |
| Xem lịch sử giá vàng SJC: nhấn đây! | |
| ↀ Giá vàng thế giới | ||
|---|---|---|
| $1,801.89 | +12.74 | 0.71% |
| ʘ Giá bán lẻ xăng dầu | ||
|---|---|---|
| Sản phẩm | Vùng 1 | Vùng 2 |
| RON 95-V | 25.340 | 25.840 |
| RON 95-III | 24.660 | 25.150 |
| E5 RON 92-II | 23.720 | 24.190 |
| DO 0.05S | 22.900 | 23.350 |
| DO 0,001S-V | 24.880 | 25.370 |
| Dầu hỏa 2-K | 23.320 | 23.780 |
| ↂ Giá dầu thô thế giới | |||
|---|---|---|---|
| WTI | $91.88 | +0.55 | 0.60% |
| Brent | $97.89 | +0.11 | 0.11% |
| $ Tỷ giá Vietcombank | ||
|---|---|---|
| Ngoại tệ | Mua vào | Bán ra |
| USD | 23.220,00 | 23.530,00 |
| EUR | 23.498,00 | 24.813,92 |
| GBP | 27.761,87 | 28.945,83 |
| JPY | 170,70 | 180,72 |
| KRW | 15,50 | 18,89 |
| Cập nhật lúc 16:47:39 13/08/2022 Xem bảng tỷ giá hối đoái | ||
