US EditionSeoul’s Property Boom and US Tariffs Put Korean Central Bank in a Bind
SOUTH KOREA, JUL 10 – The Bank of Korea kept its rate at 2.5 percent to address soaring housing prices and rising household debt, with loans increasing by $4.51 billion in June, officials said.
- South Korea's central bank maintained its benchmark interest rate at 2.5% amid rising housing prices and household debt, as stated by the Bank of Korea .
- Housing prices in Seoul have surged due to eased financial conditions, prompting the government to implement stricter mortgage regulations, according to the report.
- BOK Governor Rhee Chang-yong emphasized the critical level of household debt and stated that economic growth may be affected by U.S. tariff negotiations.
- The BOK expects the new budget of 31.8 trillion won to boost GDP growth by 0.1 percentage points, reflecting the government's effort to stimulate the economy.
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Coverage Details
Total News Sources11
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 29%
R 43%
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