World Business Briefing: South Korea: Interest Rates Held Steady
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South Koreaâs central bank kept its benchmark interest rate unchanged for a sixth month after consumer prices increased at the slowest pace in seven years. The Bank of Korea, led by its governor, Lee Seong-tae, left the overnight call rate at a five-year high of 4.5 percent. âEconomic growth has weakened,â Mr. Lee, left, said. âConsumer prices have stabilized.â The bank raised rates three times in 2006. Recent reports showing that the economy grew at the slowest pace in 18 months and that household debt fell for the first time in a year ended expectations that the central bank would raise rates in the first half of this year.
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Confidence at major Japanese companies remained unchanged from three months ago, a closely watched Bank of Japan survey showed, possibly reinforcing expectations that the central bank would raise interest rates in August.
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Japan's central bank left its super-low interest rates unchanged for a 12th straight meeting Thursday due to concerns that the US subprime loan crisis and a housing slump will curb economic growth.
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The Bank of England announced it was leaving interest rates unchanged at 4.75 percent for a fourth successive month amid continued signs of cooling in the British economy.
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Faced with a strengthening economy and scant signs of runaway prices, the Federal Reserve appeared set to keep interest rates steady on Wednesday while keeping up a verbal guard against potential inflation.
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The European Central Bank held its main interest rates steady Thursday against a background of rising inflation and slowing growth, shortly after the Bank of England (BoE) did the same.
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Federal Reserve Chairman Ben S. Bernanke indicated today that the central bank is likely to hold interest rates steady for a while but remains ready to hike borrowing costs if necessary to force inflation lower.
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The U.S. Federal Reserve on   Wednesday held its benchmark interest rate steady for a second   straight meeting, biding time to assess whether cooling   economic growth will curb price pressures.
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Federal Reserve policymakers held short-term interest rates steady today, but indicated they remain ready to raise borrowing costs if strong economic growth fuels inflation pressures.
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The Bank of Korea raised its benchmark interest rate for the first time in nearly a year amid fears that bank lending to smaller businesses, stronger economic growth and higher oil prices could stoke inflation. The central bank said it had raised its overnight call rate target for loans to commercial banks to 4.75 percent from 4.5 percent. It was the first increase since one of similar size in August.
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The Federal Reserve decided to keep interest rates steady Wednesday and acknowledged that the economy is slowing down, which could mean the Fed may not need to raise rates further in the near future.
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The Bank of England held interest rates steady at 5.5 percent on Thursday, resisting calls for a cut amid mounting signs of a slowing domestic economy.
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The Federal Reserve held a key short-term interest rate steady Wednesday, a possible sign the central bank thinks the economy is on solid footing.
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U.S. Federal Reserve officials are expected to hold interest rates steady on Tuesday and retain a cautionary warning about inflation risks, while taking stock of cooler economic growth.
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FRANKFURT, Germany -- The European Central Bank held its key interest rate steady at 4 percent while the Bank of England cut its benchmark rate by a quarter percentage point to 5.25 percent on Thursday.
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All nine members of the Bank of England&#39;s Monetary Policy Committee voted to keep interest rates unchanged at 4.75 percent this month, and there seemed to be no discussion of raising borrowing costs.
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The U.S. Federal Reserve on   Wednesday held its benchmark interest rate steady for a second   straight meeting, saying that while inflation risks remain,   they should abate as economic growth slows.