South Korea Has $3.17 Billion Trade Surplus
(RTTNews) - South Korea posted a merchandise trade surplus of $3.17 billion in October, the Customs Office said on Friday.
That missed forecasts for a surplus of $4.23 billion and was down from $6.66 billion in September.
Exports rose an annual 4.6 percent, again shy of expectations for a gain of 6.9 percent after rising 7.5 percent in the previous month.
Imports were up 1.7 percent on year versus expectations for a gain of 2.0 percent and down from 2.2 percent a month earlier.
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South Korea Producer Prices Slip 0.1% In October
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South Korea Has $11.12 Billion Current Account Surplus
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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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