South Korea Retail Sales Sink 0.9% In June

RTTNews | 1505 days ago
South Korea Retail Sales Sink 0.9% In June

(RTTNews) - The total value of retail sales in South Korea was down a seasonally adjusted 0.9 percent on month in June, Statistics Korea said on Friday.

That missed expectations for a decline of 0.5 percent following the downwardly revised 0.2 percent drop in May (originally -0.1 percent).

On a yearly basis, retail sales slumped 1.5 percent - again missing forecasts for a drop of 0.5 percent following the 0.7 percent increase in the previous month.

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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 | 15 days ago