Bank of Korea (BoK)
Central Banking’s ‘Leaders’ for custody, banking and gold
Central banks want integrated custody platforms and real-time data from custodians as the low-yield environment drives demand for banking services and increases the relative attractiveness of gold
IMF urges Bank of Korea to pursue ‘accommodative policy stance’
Fund urges central bank to implement “light” macro-prudential policies
CBDC is mixed bag for financial stability – Bank of Korea
Central bank paper highlights stability concerns but says there are instances within which a CBDC could strengthen stability
Korea’s sluggish economy dampens growth prospects
Bank of Korea revises growth forecasts and leaves interest rates on hold
People: Former Malawian governor dies
Mathews Chikaonda served as governor in the 1990s; new senior appointments made at the BIS; and more
Reserve management practices are splintering
Traditional approaches to reserves management are breaking down, writes Jennifer Johnson-Calari
South Korea will publish data on forex interventions
US Treasury report called recent South Korean forex moves “concerning”
People: Weidmann re-elected as chair of BIS board
Korea appoints deputies; new Malaysian prime minister appoints team of economic advisers; new vice presidents in Richmond and Atlanta
Central Banking Awards 2018: Gallery
See the winners from the big night, including leading figures from across the industry who came to pick up their awards
People: South Korea’s Juyeol Lee nominated for new term
South Korean president nominates Lee for fresh four-year term; SNB’s Wiedmer steps down; State Bank of Vietnam appoints new banking supervisors
Bank of Korea unveils changes to its DSGE model
The existing model’s accuracy was reduced following structural changes in the economy
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
Reserve manager of the year: Bank of Korea
The South Korean central bank has revamped its reserve operations, and adopted a proactive approach to managing risks and returns that is matched by few of its peers
Asian central banks crack down on cryptocurrency
Central banks in China, Korea, Malaysia and Singapore all taking action as cryptocurrency prices slump
Bank of Korea on hold amid policy dilemma
Strong won and benign inflation likely to keep the BoK on hold in the first half of 2018
Bank of Korea makes first hike in six years
Central bank triggers hiking cycle despite below-target inflation, as economy shows “solid” growth
Banking sector openness affects policy transmission, BoK paper finds
Bank of Korea study focuses on smaller open economies
Korea suffering from ‘missing inflation’ – deputy governor
Core inflation is still in the mid-1% range despite economic improvement
People: Trio of deputies appointed at Sri Lankan, Korean and Bahaman central banks
Veteran central bankers appointed at Sri Lankan and Korean institutions; Bank of Bahamas also gets new second in command
Korean governor outlines limitations of GDP as economic indicator
GDP does not “fully capture” income or wealth distribution; Lee Ju-yeol offers alternatives based on microdata and other macroeconomic indicators
Bank of Korea paper says digital currency will not displace hard cash
Digital currency could be used as a medium of exchange, but will not oust cash as a store of value, given the issues surrounding insurance and trust, authors of working paper find
Adopting inflation target can create higher inflation – paper
Bank of Korea working paper finds positive relationship between inflation target and inflation, implying some central banks may be tempted to move the goalposts
Bank of Korea embarks on ‘coinless society’ project
Central bank wants to eradicate use of coins by 2020; first stage of the project to use electronic travel passes to pay for goods and services
Emerging markets hit harder by US rate hikes than domestic policy – Bank of Korea paper
US rate hikes have a larger impact on growth and financial flows in emerging markets than changes in domestic policy, researchers find