News list for " Bank of Korea"
On March 24th, the Bank of Korea said today that as part of the launch of the Central Bank Digital Currency (CBDC) wholesale comprehensive test, the bank will test the use of digital tokens converted from bank deposits in online and offline shopping malls. The test will be launched on April 1, with up to 100,000 consumers and seven major banks including Kookmin Bank, Shinhan Bank and Hana Bank participating. During the period, consumers can use deposit tokens to purchase goods and services at mu...
The Bank of Korea (BOK) plans to launch a central bank digital currency (CBDC) pilot called "Hangang". The program aims to facilitate daily transactions from April to June. Once the Bank of Korea issues the digital currency to seven participating banks, the institutions will distribute deposit tokens for use in local supermarkets, online shopping malls and convenience stores. The pilot is expected to involve 100,000 local citizens.
The Bank of Korea made it clear that it "has never considered including bitcoin in foreign exchange reserves". In response to a written question from a lawmaker and member of the Planning and Finance Committee, Cha Gui-geun, the Bank of Korea said on the 16th, "We believe that we need to be cautious about including bitcoin in foreign exchange reserves...
The Bank of Korea plans to work with the Financial Services Commission and the Financial Supervisory Service to launch a real-world transaction pilot of a central bank digital currency (CBDC) involving 100,000 consumers. The pilot will involve seven major commercial banks, including Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, Nongxie Bank, Korea Development Bank, and Busan Bank. These banks will issue CBDC-backed deposit tokens for retail transactions at select merchants, including 7-Elev...
A Reuters poll showed 25 economists said the Bank of Korea would cut the base rate by 25 basis points to 2.75 percent on Feb. 25.
The Bank of Korea unexpectedly kept interest rates unchanged at 3%, and market expectations fell to 2.75%.
The Bank of Korea unexpectedly kept interest rates unchanged at 3%, while market expectations fell to 2.75%. (Kim Ten)
The Bank of Korea is expected to cut its policy rate for the third time in a row next week in response to growing concerns fuelled by political instability over the president's impeachment. Nineteen of the 26 economists surveyed by the Wall Street Journal predicted the Bank of Korea would cut rates by 25 basis points to 2.75 per cent at its January 16 meeting. Suktae Oh and Kiyong Seong, economists at Socie ́ te ́ Ge ́ ne ́ rale, said: "Concerns about a slowdown in domestic demand as a resul...
According to Yonhap News Agency, the Bank of Korea plans to cut interest rates further next year in response to higher downside risks.
According to Yonhap News Agency, the Bank of Korea plans to cut interest rates further next year in response to higher downside risks. (Kim Ten)
Bank of Korea official: The Bank of Korea will hold a special meeting at around 9 am Korean time (8 am Beijing time).
Bank of Korea: The Bank of Korea's monetary policy committee will meet early Wednesday to discuss market stabilization measures.
The Bank of Korea said its monetary policy committee would meet early on Wednesday to discuss market stabilisation measures.
Bank of Korea official: If necessary, we are ready to take sufficient measures to stabilize the market and will release information after the meeting.
The Bank of Korea cut interest rates by 25 basis points to 3.00%, with market expectations unchanged at 3.25%.
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