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Sat, June 3, 2023 | 23:39

Korea-US interest gap widens to record high

Korea-US interest gap widens to record high

The interest rate gap between Korea and the United States has risen to a historic high of 1.75 percentage points following the U.S. Federal Reserve's unanimous decision to increase interest rates by a quarter percentage point to a range of 5 to 5.25 percent. This increases pressure on the Korean economy amid concerns of an exodus of foreign capital in search of higher returns...

Lee Min-hyung | 2023-05-04 16:28

US Fed lifts interest rates again, signals potential pause

[INTERVIEW] Philippines' top central banker calls on ADB members to enhance multilateral cooperation against crisis

INTERVIEWPhilippines' top central banker calls on ADB members to enhance multilateral cooperation against crisis

INCHEON - The member countries of the Asian Development Bank (ADB) should continue to enhance multilateral financial cooperation to ensure sufficient liquidity and foreign exchange reserves against possible economic crisis, the top central banker of the Philippines said. In an exclusive interview with The Korea Times, Felipe Medalla, the governor of Bangko Sentral ng Pilipina...

Yi Whan-woo | 2023-05-04 16:23

Spillover effects from China expected to boost Korea's economy: IMF

Spillover effects from China expected to boost Korea's economy: IMF

INCHEON - Korea is expected to see the spillover effects of China's reopening in the second half of this year, the head of the Asia and Pacific Department at the International Monetary Fund (IMF) said, Thursday. “The initial pace of [China's reopening] has been led by consumption goods and services, because during the pandemic, consumption was depressed. Going forward to the ...

Lee Yeon-woo | 2023-05-04 16:08

Choo calls for ADB's 'flexible, creative' approach on poverty, climate issues

Choo calls for ADB's 'flexible, creative' approach on poverty, climate issues

Korea's finance minister called Thursday for the Asian Development Bank (ADB) to adopt more "flexible and creative" approaches to address the region's tasks, such as poverty and climate change.

2023-05-04 14:37

Higher interest rates weighing on Korea's domestic demand: IMF

Higher interest rates weighing on Korea's domestic demand: IMF

Korea's high borrowing costs are holding back the country's domestic demand, the director of the Asia-Pacific at the International Monetary Fund (IMF) said Thursday, although its exports are set to rebound on China's recovery.

2023-05-04 14:35

Korea to raise guard against market instability after Fed rate hike

Korea to raise guard against market instability after Fed rate hike

Korea's financial authorities said Thursday that they will remain vigilant against potential market instability after the U.S. Federal Reserve raised its policy rate again and opened the door for an additional rate hike.

2023-05-04 11:00

US Fed lifts interest rates again, signals potential pause

Foreign reserves grow in April on dollar's fall

Foreign reserves grow in April on dollar's fall

Korea's foreign reserves grew in April as the dollar's descent increased the conversion value of holdings in other currencies, central bank data showed Thursday.

2023-05-04 09:23

ADB urged to better capitalize on digitalization in post-pandemic era

ADB urged to better capitalize on digitalization in post-pandemic era

INCHEON - The Asian Development Bank (ADB) is urged to capitalize more on digital acceleration in the post-pandemic era on its mission to reduce poverty and bolster growth in Asia, international experts on finance, technology and sustainable development said Wednesday. The experts advised the ADB to work closer with the private sector, to help improve productivity in the regi...

Yi Whan-woo | 2023-05-03 17:04

Korea seeks to expand exporters' opportunities through ADB meeting

Korea seeks to expand exporters' opportunities through ADB meeting

INCHEON - Korea is capitalizing on the annual meeting of the Asian Development Bank (ADB) to widen opportunities for its exporters in the post-pandemic era.

Yi Whan-woo | 2023-05-03 17:04

Korea to join efforts to form cooperative supply chain in Asia: Yoon

Korea to join efforts to form cooperative supply chain in Asia: Yoon

Korea to join efforts to form cooperative supply chain in Asia: Yoon

INCHEON - Korea will contribute to forming a cooperative supply chain in Asia that includes semiconductors and rechargeable batteries, President Yoon Suk Yeol said, Wednesday. He also pledged that Korea will play a role in combating climate change and bridging the digital divide.

Lee Yeon-woo | 2023-05-03 16:45

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