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South Korea's Consumer Sentiment Turns Positive in June
South Korea's consumers turned optimistic in June, according to data released by the central bank on Tuesday.
South Korean Consumer Sentiment Rises in June
South Korea's composite consumer sentiment added 2.5 points to 100.9 in June from 98.4 in the previous month, according to data released by the Bank of Korea on Tuesday.
South Korea's PPI in May rose by 0.1% monthly and 2.3% yearly in Economy.
The Bank of Korea announced that, according to preliminary estimates, South Korea's producer price index (PPI) rose by 0.1% month-on-month in May, compared to a rise of 0.3% in the previous month. Year-on-year growth has accelerated to 2.3%, compared to a rise of 1.9% in the previous year.
The governor of the central bank stated that the MLF can dilute the policy interest rate color. Will the LPR be independently lowered in the future? Industry insiders: it is very likely in the third quarter, with many precedents before this.
On June 19th, Pan Gongsheng said that in the future, a short-term operation rate of the central bank could be considered the main policy rate. The rate of other monetary policy tools of different maturities can dilute the color of the policy rate and gradually clarify the transmission relationship from short to long; industry insiders interviewed said there is a possibility of independently lowering LPR quotes in the third quarter. Statistical data shows that the LPR rate has been lowered multiple times without the MLF changing, and even significantly reduced.
Bank of Korea Could Cut Rates in October and November, Capital Economics Says -- Market Talk
The Bank of Korea could cut interest rates at each of its final two policy meetings this year--in October and November--with economic growth set to lose steam, Capital Economics senior Asia economist Gareth Leather writes in a note.
South Korea to Run Final Tests Before Won Trading Hours Extend
South Korea will simulate extended trading hours for the won during its final trial series before the official start of longer sessions next month.
Love for Labels Makes Korea's Inflation Stickier, BOK Study Says
South Koreans’ love for labels is driving local inflation more strongly than in other developed nations, making it harder for monetary policy to rein in the costs of living, a central bank study said.
State Administration of Foreign Exchange: in May, banks completed CNY 1.25 trillion in foreign exchange purchases, and CNY 1.36 trillion in foreign exchange sales.
On June 17, the State Administration of Foreign Exchange released the data for May 2024 on bank foreign exchange transactions and bank customers' foreign exchange payment and receipt.
Net return of 55 billion yuan! What is the signal as the central bank continues to shrink MLF again?
Experts believe that from a quantitative perspective, current liquidity is reasonably abundant and banks have relatively low demand for the central bank's "water supplement", so the central bank's reduction in MLF may be aimed at avoiding idle funds.
The People's Bank of China continues to carry out MLF at the same amount and interest rates have remained unchanged for 10 consecutive months. The reduction of RRR and interest rates may still need to be postponed, and the policy may be implemented in the
① Overall disturbance in the capital market in June was limited, and the loose situation is expected to continue. Financial institutions have a weak demand for MLF, while the government bond supply pressure in June may be reduced compared to May, and the central bank does not intend to inject too much liquidity. ② Reducing MLF operation rate in the third quarter is still seen as a possible policy option. It is expected that the demand for MLF by banks will increase in the third quarter, and there is hope for an increase in the amount of MLF operations.
The People's Bank of China has just released the latest figures! From January to May, new social financing amounted to 14.8 trillion yuan, a year-on-year increase of 7% for M2.
RMB loans increased by 11.14 trillion yuan in the first five months, while RMB deposits increased by 9 trillion yuan.
The L currency supply in South Korea fell by 0.4% month-on-month in April, and rose 4.5% year-on-year, according to 'Economy' magazine.
According to data from the Bank of Korea, the seasonally adjusted L money supply (the broadest indicator of the financial system) in South Korea fell by 0.4% month-on-month in April, with a previous increase of 1.3%. On a yearly basis, it rose by 4.5%, with a previous increase of 5.6%. The M2 money supply in South Korea increased by 0.4% month-on-month in April, with a previous increase of 1.7%. On a yearly basis, it rose by 5.7%, with a previous increase of 5%.
South Korea's export price index fell by 0.6% month-on-month in May, and import prices fell by 1.4%.
The South Korean central bank announced that according to preliminary estimates, the May export price index in South Korean won (hereinafter the same) fell by 0.6% month-on-month, compared with the previous increase of 4.4%; on a yearly basis, it increased by 7.5% compared with the previous increase of 6.5%.
South Korea Says 'No Going Back' Once FX Trade Reform Begins
A senior South Korean official underscored the nation’s determination to ensure that its extension of trading hours for the onshore won will be permanent as it pushes for its biggest market reforms in decades in a bid to join a global government bond index.
The employment growth rate in South Korea in May reached a new low of over three years, with an unemployment rate of 3%.
South Korea's statistics bureau announced that the number of employed persons in South Korea increased by 80,000 year-on-year to 28.915 million in May, the lowest increase in over three years. The unemployment rate in May was 3%, up from 2.7% last year. The labor participation rate in May was 65.4%, up 0.1 percentage points from the same period last year.
China's CPI rose 0.3% year on year in May
In May, the national industrial producer ex-factory price fell by 1.4% year-on-year, narrowing by 1.1 percentage points from last month, and rose by 0.2% month-on-month, down from 0.2% decline last month; industrial producer purchase prices fell by 1.7% year-on-year, up 0.3% month-on-month. From January to May, the average ex-factory price of industrial producers decreased by 2.4% compared to the same period last year, and industrial producer purchase prices decreased by 3.0%.
South Korea's GDP Grows 1.3% in Q1 in Line With Bank of Korea's Advance Estimate
South Korea's economy expanded 1.3% in the first quarter of 2024 from the year-ago period, consistent with the advance estimate, data from the Bank of Korea indicated Wednesday.
South Korea's Official Foreign Reserves Decline in May
South Korea's foreign exchange reserves fell to $412.8 billion as of end-May from $413.3 billion as of April 30, the Bank of Korea said Wednesday.
South Korea's Economy Bigger Than Thought, Easing Debt Burdens
South Korea’s economy has grown 4.9% more than previously thought every year on average since 2000, a revision that lowers the share of national debt and raises the scope for more policy action by monetary and fiscal authorities.
South Korean Government's Efforts Could Lead Inflation to Slow Sharply in 3Q -- Market Talk
The South Korean government's efforts to curb price growth by lowering tariffs and raising quotas on imported food and fruit could lead inflation to slow sharply in 3Q, ING economists Robert Carnell and Min Joo Kang say in a note.