Category: Bank of Korea

Samsung Presses Ahead With Central Bank Digital Currency Technology

May 16, 2023
Asia & PacificBank of KoreaBusiness & Marketscentral bank digital currencycryptocurrencyeconomic policieseconomyMarketsSamsungSouth KoreaUSWorld
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Samsung said it would press ahead with central bank digital currency (CBDC) technology in South Korea. The South Korean tech giant is planning on launching a CBDC currency in collaboration with the Bank of Korea (BOK). CBDCs are central bank-issued and controlled digital currencies that can be exchanged using blockchain or distributed ledger technology. Central…

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South Korea’s Inflation Rate Jumps to Nearly 14-year High

June 3, 2022
Asia & PacificBank of KoreaBusiness & EconomyeconomyinflationSouth KoreaWorld
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The inflation rate in South Korea jumped to 5.4 percent in May from the previous year, hitting a near 14-year high amid soaring crude oil and commodity prices triggered by the Russia-Ukraine war. Statistics Korea reported Friday that consumer prices accelerated from an on-year increase of 4.8 percent in April, marking the fastest annual growth…

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Bank of Korea Likely to Hike Rates Again Over High Inflation, Household Debt: Reuters Poll

January 14, 2022
Asia & PacificBank of KoreaBusiness & EconomyCompanieseconomyhikeinflationInternationalratesWorld
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BENGALURU—The Bank of Korea is likely to raise its policy rate back to where it was before the pandemic on Friday, a Reuters poll found, as it looks to restrain rising inflation and the increasing debt that households are taking on to buy property. Twenty-five of 35 economists who answered a Jan. 5–11 Reuters poll…

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