South Korea holds interest rates steady at record low
The bank’s decision to keep rates stable was in line with expectations, according to a survey by the Korea Financial Investment Association (KFIA). Economic conditions in South Korea are reported to have progressed owing to the record-low interest rate and the government’s efforts to revive economy.
South Korea’s domestic auto sales climbed 17.7% on the year in December while gasoline and diesel sales also rose 2.4%. The country’s exports, meanwhile, fell for a twelfth straight month in December, falling 13.8% on a yearly basis on the back of an economic slowdown in emerging economies.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China boosts polymer imports from US again despite shrinking overall imports in 2022
- Asian PVC prices cautiously rebound from more than 2-year lows
- Freight rates near pre-Covid levels as pace of normalization accelerates
- Bleak outlook for Q1 keeps European PP, PE buyers sidelined
- PLAST EURASIA 2022: Eyes on Russian and US supplies with demand woes in focus
- December PE offers to SE Asia imply further drops, yet to respond to China
- Has the bear market for Asian PVC almost run its course?
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows
- Turkey’s PE market on brink of new drops for December