South Korean central bank, the bank of Korea decided to benchmark interest rates by a quarter of a percentage point to 2.75%, this is the bank of Korea since joly third raised benchmark interest rates. The bank of Korea will this rises in interest rates reasons for inflation, but the country would have many worries of voice.

For raising interest rates of background and reasons, the bank of Korea President JinZhongXiu once explanations: with the global economy constantly going well, international prices of raw materials and domestic wage rises ceaselessly, South Korea facing inflation pressure continue to widen. South Korea TongJiTing statistics released, South Korea last year\’s consumer price index rose 2.9%, below the government expected 3%, but fresh food price rises by 21.3%, as opposed to a total since 1994. Especially Chinese cabbage, radish, flour etc public daily life necessary food prices is breathtaking more, with January 11th as a benchmark, prices rise respectively year-on-year 95, 41% and 32.6%. In addition, South Korea gasoline prices also during the past one year rose more than 10%, litre already approaching 19 won ($1 1,115 won), gasoline prices triggered a chain reaction. Therefore, the bank of Korea will in future monetary policy focus on inflation.

In order to stabilize prices, in addition to the bank of Korea to raise interest rates, Korean project finance, the knowledge economy, the administrative department of homeland security several departments as also in 13 rolled out jointly \”price stability comprehensive countermeasures,\” made in the first half of this year will generally not be raised electricity, gas, etc, to house lease, public expenses, education, food processing and oil products as well as project cost supervision, and reduce the main import tariffs.

South Korea for the domestic many people express concern that raising interest rates will further weaken the family debt burden. According to South Korea financial industry recently released statistics, by the third quarter of the year, South Korea family indebted amount as high as 770 trillion won, since 2000, annual average increase 12%. South Korean LG economic institute analyzed that, if the benchmark interest rates rose 1 percent, personal interest burden with increase of about 5.5 trillion won. The central bank raised interest rates will not only make family and enterprises to increase interest burden, still can give the whole economic impact. Especially low-income people in financial asset liability rate in slants big, interest burden is relative taller, will lead to financial condition deteriorated. South Korea financial institute think, South Korea family liabilities scale has reached very serious point, the government should gradually raised interest rates, narrow the liquidity, simultaneously to low-income provide assistance.

For the bank of Korea next monetary policy, Korean domestic currently has two kinds of sound. One is that, the bank of Korea still should further raise interest rates in order to stabilize prices. Another kind of thought, the south Korean government can pass through other administrative measures to stabilize prices rather than ascension interest rate, or slowing economic growth, which will bring more problems.

South Korean central bank, the bank of Korea decided to benchmark interest rates by a quarter of a percentage point to 2.75%, this is the bank of Korea since joly third raised benchmark interest rates. The bank of Korea will this rises in interest rates reasons for inflation, but the country would have many worries of voice.

For raising interest rates of background and reasons, the bank of Korea President JinZhongXiu once explanations: with the global economy constantly going well, international prices of raw materials and domestic wage rises ceaselessly, South Korea facing inflation pressure continue to widen. South Korea TongJiTing statistics released, South Korea last year\’s consumer price index rose 2.9%, below the government expected 3%, but fresh food price rises by 21.3%, as opposed to a total since 1994. Especially Chinese cabbage, radish, flour etc public daily life necessary food prices is breathtaking more, with January 11th as a benchmark, prices rise respectively year-on-year 95, 41% and 32.6%. In addition, South Korea gasoline prices also during the past one year rose more than 10%, litre already approaching 19 won ($1 1,115 won), gasoline prices triggered a chain reaction. Therefore, the bank of Korea will in future monetary policy focus on inflation.

In order to stabilize prices, in addition to the bank of Korea to raise interest rates, Korean project finance, the knowledge economy, the administrative department of homeland security several departments as also in 13 rolled out jointly \”price stability comprehensive countermeasures,\” made in the first half of this year will generally not be raised electricity, gas, etc, to house lease, public expenses, education, food processing and oil products as well as project cost supervision, and reduce the main import tariffs.

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