South Korea Inflation Unchanged On Month In October
(RTTNews) - Consumer prices in South Korea were flat on a seasonally adjusted monthly basis in October, Statistics Korea said on Tuesday.
The was shy of expectations for an increase of 0.2 percent and down from 0.1 percent in September.
On an annualized basis, inflation was up 1.3 percent - again missing forecasts for 1.4 percent and down from 1.6 percent in the previous month.
Core CPI added 0.2 percent on month and 1.8 percent on year after slipping 0.2 percent on month and gaining 2.0 percent on year in September.
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South Korea Producer Prices Slip 0.1% In October
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Bank Of Korea Cuts Key Rate For First Time In More Than 4 Years
The Bank of Korea lowered its base rate for the first time in more than four years on Friday, in order to stimulate economy as inflation weakened to the lowest since early 2021 and household debt began to slow on tight macroprudential policies. The Monetary Policy Board headed by Rhee Chang Yong decided to cut the Base Rate by 25 basis points to 3.25 percent from 3.50 percent.
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