[South Korea's Choice Financial News Reporter] The Bank of Korea stressed that 15 days' so to the growth of the domestic economy is gradually expected to be minimal inflationary pressures from the demand side to keep the easing of monetary policy.
Wednesday morning opened the 349 times Congress (extraordinary session) Strategy and Finance Committee Bank of Korea in plenary work status report will be closely review the "uncertainty and the impact of internal and external conditions, monetary policy normalization trend of the US Federal Reserve (Fed), household debt growth, etc. 'saying' it said would improve the financial intermediary support loans for small businesses struggling to influence the financing of the restructuring.
The Bank of Korea explained that it is holding as the 'Donald Trump United States trade protectionism strengthening of the government, the US Federal Reserve's interest rate hikes, domestic consumption and investment sentiment' factors' considered highly uncertain growth path. "
Consumer prices are seen as' concentrated oil prices and price hikes fisheries will be extended to a 2% YoY growth this year of January. Oil prices had "for the time being expected to fluctuate at about $ 50 a barrel.
In addition the Bank of Korea, but access to medium-term inflation target (2%) are 'continue to have significant operations in financial stability policy. Conducted a 'one government bond purchases, monetary stabilization securities market stabilization measures, such as reduced response to market interest rates soared, and plans to "after the US presidential election deal with the financial markets volatility.
Another dimension stability in the financial system The Bank of Korea decided to "check the ripple effects of insolvency probability and risk of household debt and the corresponding"
The Bank of Korea has been determined dwaetdago 'household lending growth rate is shrinking housing transactions decreased since last December, lending rates rise, strengthen risk management of banks.
According to the Bank of Korea, 2017 1 Only months household loan balance (including mortgages ball jugeum minutes transfer) is 1154 6000 1 trillion won. Explosion of 124 trillion won last year by French standards, was record-high levels.
The growth rate was somewhat mitigated anyhow. In the case of bank mortgage lending increased by 900 billion won to 3.6 trillion won last December after increase in January.
The Bank of Korea has "just believe in non-bank household loans continues to rise above the level of previous years' notice and courteous.
In addition the Bank of Korea plans to "Basel Ⅲ regulations apply, such as pin-tech spread analyze the impact on sales behavior and financial stability of a financial institution. In statistical development 'plan for improving digital reflect, share, gross domestic product (GDP) of economic transactions statistics also seek "the Bank of Korea decided to.
Greetings, In terms of organization plans to "increase competition and efficiency within the organization continued restructuring in the direction of an emphasis on business skills and performance of employees. This year reconstruction and renovation of the Bank of Korea headquarters building is also promoted to the first half of 2020 from the second half of the year.
Meanwhile, the Bank of Korea Monetary Policy Committee meeting will be conducted reorganization this year. Monthly base rate decided the direction of monetary policy decision meeting is losing 8 circuit open, stable macro-financial situation inspection meetings are held four times a year.
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