South Korea Current Account Slips To Deficit In November

RTTNews | 1341 days ago
South Korea Current Account Slips To Deficit In November

(RTTNews) - South Korea had a current account deficit of $0.62 billion in November, the Bank of Korea said on Tuesday - following the $0.883 billion surplus in October.

The goods account recorded a $1.57 billion deficit, down from the $6.07 billion surplus one year earlier.

The services account deficit increased from $0.27 billion one year earlier to $0.34 billion in November 2022, owing to a decrease in the transport account surplus.

The primary income account surplus increased from $1.17 billion last year to $1.43 billion in November 2022, in line with an increase in the income on equity.

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Bank Of Korea Hikes Key Rate For Second Straight Time

Bank Of Korea Hikes Key Rate For Second Straight Time

The Bank of Korea raised its benchmark rate by a quarter-point for the second straight meeting on Thursday, to prevent broadening of inflationary pressures. The Monetary Policy Board of the Bank of Korea voted 6-1 to raise the base rate by 25 basis points to 3.00 percent. The bank had lifted the rate by a quarter-point at the previous meeting in July.
RTTNews | 16 days ago