Bank_of_Korea

Decline in Apartment Purchases in Seoul Raises Odds of Bank of Korea Rate Cut

9 months ago

A recent report has revealed a significant decline in apartment purchases in Seoul, raising speculations about a potential interest rate cut by the Bank of Korea. In the past month, the volume of real estate transactions in the capital dropped by 16.9%, marking the sharpest decrease since the beginning of the current year. This drop comes amid ongoing rising housing prices, which had previously caused concern among authorities and analysts.

Debt Warning: Bank of Korea Holds Interest Rates at 3.5%

9 months ago

Last week, the Bank of Korea made a significant decision to keep interest rates unchanged at 3.5%. This decision signals potential risks associated with the rising household debts in the country. The head of the bank, Rhee Hee-Lim, emphasized that the current financial situation requires close attention, considering that household debt levels in South Korea have reached record highs.