Bank of Korea (BoK)
Korea needs right kind of banking competition – quarterly bulletin
Competition can harm welfare if it is focused on gaining market share through a price war, authors say; Korean system may benefit from greater diversity
South Korean governor calls for international swap line expansion
Lee Juyeol welcomes improvements in financial safety nets at both global and regional levels, but suggests more co-operation is needed to ensure they expand further
Korea reveals organisational changes in annual report
Financial markets department established in 2015, alongside divisions dedicated to capital markets, monetary policy research and financial system analysis
Outflows during normalisation proportional to earlier inflows, paper warns
Working paper examines the effects unconventional monetary policies in advanced economies had on capital flows in emerging markets, and predict what is to come during normalisation
Korean paper explores ‘divergent’ spillovers to EMs
Macro-prudential policies key to protecting emerging markets from spillovers, research says; normalisation in the US could lead to ‘renewed tensions’
Bank of Korea to adopt 2% target from 2016
Central bank scraps its target range in favour of a fixed point; inflation rises to 1% but board expects it to ‘continue at a low level’ in coming months
Cycles in Korean unemployment explained ‘mostly’ by domestic shocks, paper finds
Working paper estimates a new Keynesian model with labour market frictions, designed to mirror the Korean economy, to study relationship between different shocks and dynamics
Eichengreen says central banks lack will not ability to tackle deflation
Central banks have the tools to deal with bad deflation if they are willing to act aggressively enough, economist argues; broadening asset purchases or helicopter money are both options
Asian central banks opt for different strategies in wake of China devaluation
Philippines and Korea hold fire on interest rates as currencies plunge while Taiwan looks for way to ease under the radar
BoK holds policy following RMB drop
Won bounces back from four-year low as Korean central bank keeps rates on hold following Chinese devaluation
Bank of Korea research tots up damage from capital flows
Researchers attempt to measure the impact of foreign financial flows on the real economy, finding the type of flow matters for growth, but all types increase volatility
Bank of Korea researchers dig into disaggregated data on inflation targeting
Adopting inflation targeting in Korea lowered the mean, volatility and persistence of inflation throughout the country, but a look at disaggregated data reveals more about transmission
Bank of Korea annual report sheds light on organisational shake-up
Central bank expanded research functions, improved communications, and established a ‘task force’ to examine the effectiveness of internal management in 2014
Korea introduces RMB discount window
Bank of Korea to launch emergency liquidity facility offering Chinese currency as part of broader infrastructure push aimed at bolstering Seoul's role as RMB hub
Governor wants freer thinking at 65-year-old Bank of Korea
Juyeol Lee hints at coming shake-up, calling for openness to ‘creative ideas’ as central bank prepares to set new inflation target
Virus outbreak prompts Bank of Korea rate cut
Deadly Mers virus a key factor behind central bank’s decision to ease policy as economic recovery shows signs of faltering
IMF deputy warns ‘leakages’ could undermine macro-prudential policy
Mitsuhiro Furusawa says macro-prudential tools could force financial activities into a less regulated sector or country, but adds little is known about benefits of ‘leaning against the wind’
Bank of Korea paper investigates link between liquidity and commodity prices
Researchers find certain commodity prices became more sensitive to global liquidity following the 2008 financial crisis
Korea’s record rates have further to fall, says economist
Rate cuts still look to be on the horizon despite the Bank of Korea holding steady at record lows today, says economist; government also likely to have to provide further stimulus
Bank of Korea torn between debt and demand
The central bank in Asia's fourth biggest economy is grappling with how to set policy when the country carries a private debt burden that could increase in size no matter the strategy
Won at 20-month low following record BoK rate cut
Korean central bank cuts benchmark interest rate to 1.75%, an all-time low, amid slowing growth and inflation; euro weakness 'a consideration' posits analyst
Bank of Korea paper examines global liquidity drivers
Researchers at central bank explore transmission of global liquidity shocks from advanced to emerging market economies; warns there is no ‘silver bullet’ response
Bank of Korea governor sees imbalances worsening
Juyeol Lee warns a ‘fundamental rebalancing’ may be the only way to achieve longer-term growth; external imbalances may also deteriorate