Bank of Korea

The Bank of Korea said on July 3 that the country's foreign reserves reached $427.36 billion at end-June, up $370 million from a month earlier and reversing a May decline.

24 Mwezi wa sita, 2026 Imeripotiwa na AI

South Korea's business sentiment worsened in June for the first time in three months, driven by sluggish construction and travel sectors, a central bank survey showed Thursday.

South Korea's import prices surged 16.1 percent in March, the sharpest rise in over 28 years, driven by soaring global oil prices amid the Middle East conflict, Bank of Korea data showed. Dubai crude jumped 87.9 percent to $128.52 per barrel. The export price index also rose 16.3 percent.

9 Mwezi wa nne, 2026 Imeripotiwa na AI

South Korea's Bank of Korea unanimously kept its benchmark interest rate unchanged at 2.5 percent on April 10, marking the seventh consecutive hold since July 2025 amid high uncertainty from the Middle East war, which has fueled inflation risks, growth slowdowns, and won weakness. Governor Rhee Chang-yong noted the won could strengthen quickly if tensions ease. The next policy meeting is May 28.

South Korea's gross domestic product grew 1 percent in 2025 from the previous year, according to Bank of Korea data, but the fourth quarter saw an unexpected 0.3 percent contraction. Strong exports drove the annual figure despite weakness in construction. This marks half the 2 percent expansion of 2024.

24 Mwezi wa kumi na mbili, 2025 Imeripotiwa na AI

Major financial institutions have raised their 2026 inflation forecasts for South Korea, citing the continued weakness of the Korean won against the U.S. dollar. According to Bloomberg's compilation from 37 institutions, the median projection stands at 2 percent, up 0.1 percentage point from 1.9 percent at the end of last month. The Bank of Korea has also warned that consumer inflation could reach the mid-2 percent range if the domestic currency remains weak.