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South Korea freezes interest rates

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9 years ago

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Seoul: South Korea’s central bank froze its policy rate at a record low level on Thursday.

The bank will hold onto this wait-and-watch position for two months amid the expected rate hike in the US and the lingering effect from the outbreak of Middle East Respiratory Syndrome (MERS), as per reported.

The Bank of Korea (BOK) governor, Lee Ju-yeol and six policy board members decided to keep the benchmark seven-day repurchase rate on hold at an all-time low of 1.5 percent.

It was in line with market expectations. According to a Korea Financial Investment Association survey of 113 fixed income experts, 98.2 percent predicted the rate freeze.

Downside risks to the economy remained as the MERS aftermath still rattled private consumption and service industry against the backdrop of the global economic downturn.

Exports, which account for about half of Asia’s No. 4 economy, dipped 3.3 percent in July from a year earlier, maintaining a downward trend for seven months in a row.

The South Korean government declared a de facto end to the MERS crisis last month.

Despite the faltering domestic demand, the BOK was widely expected to refrain from altering the rate for the time being as the US Federal Reserve would raise its zero-level policy rate by the end of this year.

If the BOK lowers its policy rate further, foreign capital could flow out of South Korea’s financial market after the Fed’s rate hike.

Central banks of Australia, India and Thailand froze policy rates earlier this month on expectations of the Fed’s monetary tightening as early as September.

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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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