The Bank of Korea held the Monetary Policy Committee meeting this Thursday to determine the base rate.
It is highly likely that the hike will be done again after last August.
The era of the 0% base interest rate that came to us due to the COVID-19 crisis is coming to an end soon.
Correspondent Jo Tae-hyun pointed out the prospects of the Monetary Policy Committee.
The Bank of Korea raised the base interest rate from 0.5% to 0.75% in August.
Its purpose was to manage the growing household debt and skyrocketing house prices.
[이주열 / 한국은행 총재 (지난 8월) : 이를 통해 가계부채 증가세, 주택가격 오름세를 둔화시키는 효과가 있을 것으로 기대하고 있습니다.]
Last month, it took its breath away from freezing, but it is expected to raise the key interest rate once again this Thursday, when the last Monetary Policy Committee of the year will be held.
[이주열 / 한국은행 총재 (지난달 15일) : 한국은행이 보는 경제 흐름 예상에 따르면 11월에는 금리 인상을 해도 큰 어려움이 없지 않을까 (생각합니다.)]
Now the eyes are on the next year.
In a situation where household loans and real estate are troublesome, as prices rise rapidly, it is necessary to reduce market funds to contain them.
This additional increase means that even if the base interest rate becomes 1% per annum, it is still low and an additional increase is necessary.
[이정환 / 한양대학교 경제금융대학 교수 : 인플레이션을 억제하고자 금리를 인상한다고 볼 수 있습니다. 가계부채 총량 규제를 강화함과 동시에 금리를 높임으로써 정책의 효과를 높이려는 의도가 분명히 있습니다.]
The problem is timing.
This is because if the base interest rate is raised one after another in a short period of time, the burden of repayment of loans for the working class will inevitably increase.
This is the background for the prospect that the Bank of Korea will be cautious about further rate hikes early next year.
[공동락 / 대신증권 연구원 : 가계대출 금리 등 각종 금융 안정 목적을 대상으로 하는 금리들이 이미 많이 뛰었기 때문에 거기에 대한 부담이 있고요, 금리 인상 자체가 경제 주체에게 피로감을 줄 여지도 크기 때문에….]
In addition, the fact that economic uncertainty has increased as the number of confirmed cases has risen sharply after the phased recovery of daily life is also deepening the Bank of Korea’s concern about the base rate.
This is YTN Cho Tae-hyun.
YTN Cho Tae-hyun ([email protected])
[저작권자(c) YTN & YTN plus 무단전재 및 재배포 금지]