South Korea’s central bank held interest rates steady but cut its inflation and growth forecasts for the year and signaled that it will pivot to easing in the coming months, the Wall Street Journal reported. The Bank of Korea on Thursday kept its benchmark seven-day repurchase rate unchanged at a 15-year high of 3.50% for a 13th consecutive time—the longest such run in the country. Twenty-four of the 27 analysts polled by The Wall Street Journal ahead of the decision had expected no rate change in August, but all forecast a rate cut in October or November. BOK Gov.
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South Korea's mom-and-pop investors are defying last week's global financial markets rout by pouring even more funds into U.S. stocks, a years-long trend that analysts and investors bet will continue due to the depressed value proposition at home, Reuters reported. South Korean retailers have been scooping up Nvidia, Tesla Inc. and Apple shares this year fueled in part by the worldwide AI-frenzy, a move that comes despite government efforts to boost the domestic stock market.
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