Related News and Articles
Korea In Focus - Trade headwinds
Economic growth is set to slow to +2.2% in 2019 (after +2.7% in 2018). The first half of the year has been tough for the South Korean economy. Weak global trade growth and lingering trade uncertainties have impacted the country through lower exports and lower investment growth. We expect economic growth to pick up some speed in the second half of the year, supported by expansionary policies.
Macro-policies: The benefits of having buffers
Macro-policies have been appropriate so far and have helped the economy build some buffers to fight back in case of a downturn. The BOK was one of the first central banks in Asia to raise its policy rate in 2017. And the institution pursued its tightening cycle in 2018. The reasons behind this move were a relatively firm economic growth and inflation outlook, the need for reducing household debt (100% of GDP) and a continued tightening cycle in the US.
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