Bank of Governor (BOK) Lee Ju-yeol and six other monetary policy board members agreed to keep the seven-day repurchase rate on hold at an all-time low
of 1.5 percent. They cut it by a quarter percentage point in March and June
respectively.
Despite concerns about lackluster economic data at home and economic slowdown abroad, experts predicted the rate freeze by the BOK ahead of the expected rate
hike in the United States.
According to a Korea Financial Investment Association survey of 113 fixed-income analysts, 85 percent expected a BOK rate freeze this month. The
remaining 15 percent projected a rate cut on worries over the economic slump at
home and abroad.
Exports Chris Taylor Dodgers Jersey , which account for around half of the economy, continued
to decline for nine months through September when the outbound shipments tumbled
8.3 percent compared with a year earlier.
Amid the slowing exports, production in the mining and manufacturing sectors inched up 0.3 percent in August from a year earlier. Manufacturers posted an
average factory utilization rate of 74.3 percent in August, lower than an
average of 76.1 percent tallied in 2014.
Further rate cuts can weaken the South Korean currency to the U.S. dollar Jackie Robinson
Dodgers Jersey , fuelling price competitiveness of South Korean exporters
and increasing corporate earnings overseas when repatriated.
However, the BOK refrained from altering the rate as the U.S. Fed is widely expected to hike rates in early 2016 at the latest. The contrast in monetary
policies between Seoul and Washington could trigger foreign capital exodus from
the South Korean financial market.
Fed Vice Chairman Stanley Fischer said the Fed's first rate increase this year would be "an expectation, not a commitment." His comments boosted
expectations for the delayed monetary tightening, but widespread forecast
remained for the rate hike within a couple of months. Governor Lee sought to
relieve such market expectations for further rate cuts in South
Korea Mike Piazza Dodgers
Jersey , saying last Monday during the parliamentary audit that the
economy's third-quarter growth was in line with the economic forecast of the
BOK.
Asked about possibilities for the BOK to cut rates further amid the expected delay in the U.S. rate hike, Governor Lee said he had a different idea from such
expectations, showing his hawkish stance on monetary policy.
A surge in household debts prevented the BOK from considering further rate cuts. Debts owed by households to deposit takers jumped 9.8 trillion won (8.5
billion U.S. dollars) in August from a month earlier, the second biggest monthly
increase. The largest increase was 10.1 trillion won tallied in
April Clayton Kershaw
Dodgers Jersey , one month after the BOK rate cut.
Private consumption also showed signs of recovery. retail sales, which reflect consumer spending, increased 1.8 percent in August from a year earlier
after growing 2.1 percent the previous month.
Consumer sentiment index, which measures the outlook among consumers over economic
conditions Justin Turner
Dodgers Jersey , inched up 1 point from a month earlier to 103 in
September. The reading above 100 means optimists surpassed pessimist.
Sales in department stores soared 14.1 percent in September from a year earlier, after rising 1.2 percent in August. Discount outlets revenue expanded
10 percent last month after falling 4.8 percent the previous month.
Domestic car sales advanced 15.5 percent in September on a yearly basis, and credit card usage picked up 14.8 percent last month. Gasoline and diesel sales
gained 6.2 percent last month.
By Oliver Trust
BERLIN, Sept. 29 (Xinhua) -- German World Cup winning coach Joachim Loew will keep a close eye on VfL Wolfsburg in Wednesday's Champions League group match
against Manchester United.
Not because the 55-year-old is expecting a sensational win for the underdogs but because he is worried about several of his candidates for the German
national team.
Andre Schuerrle Fernando
Valenzuela Jersey , Max Kruse and Julian Draxler could well play a vital
part in their country's upcoming Euro 2016 qualifying games against Ireland
(October 8 in Dublin) and Georgia (October 11 in Leipzig) - but the trio are
currently out of form.
Despite the major crisis of Wolfsburg's owner, the car giant Volkswagen, is facing due to false exhaust emissions and as a result possible cuts in future
sponsorship, the club seems to be coming to a turning point on the pitch too.
The northern Germans originally planned to build up a sort of "VfL Germany" Sandy Koufax
Jersey , meaning, to develop German talents. However the strategy has not
yet paid off. In the middle of the crisis stands the man who was responsible for
the World Cup winning assist in the 2014 World Cup final against Argentina.
Everyone remembers the 24-year-old Andre Schuerrle crossing for his teammate
Mario Goetze (Bayern Munich) to hit the back of the net in Germany's 1-0 win
over the South Americans.
For now that moment of glory is nothing more than a sweet memory. Schuerrle is currently is no more than a shadow of bygone days and this after Wolfsburg
paid Chelsea 32 million euros for a man hopeful of continuing his brilliant
career in the national team at his new club as well.
So far the skilful and quick winger was more a disappointment than a winning factor. His record is rather poor so far: 19 games for Wolfsburg (one goal and
three assists). Currently Schuerrle is alternating between the bench and the
pitch and teammates are questioning whether he should be in the starting eleven.
When 2015 German Cup winner and 20142015 league runner-up Wolfsburg starts its adventure in the "Theater of Dreams", Schuerrle might again be substitute.
It wouldn't be a positive messa
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