Central banks, like the Bank of Korea, typically prioritize price stability and inflation control, but in South Korea, policymakers also have to address the issue of high household debt. References to household debt are frequently considered in the BOK’s monetary policy decisions, with Governor Rhee Chang Yong acknowledging criticisms about the cautious approach taken in setting the Base Rate. The BOK is concerned about the negative impact of excessive household debt on economic growth, as it weakens spending power, distorts capital allocation, and leads to an overinvestment in non-productive sectors.
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Brussels warms to efforts to organise summit with Trump
Pope Francis has died at 88, eliciting grief from global leaders and the 1.4 billion Catholics worldwide, as discussions on his successor begin. The article also covers EU officials' hopes for an EU-US summit with Donald Trump, driven by Italian premier Giorgia Meloni's recent meeting with him, which highlighted potential trade deals amidst ongoing tariff discussions. Furthermore, EU lawmakers are urging increased support for Ukraine's healthcare amid US aid cuts, emphasizing the urgent need for...
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