https://www.koreatimes.co.kr/www/biz/2024/07/602_378438.html
Conditions ripening for policy pivot amid moderating inflation: BOK chief
Korea's central bank chief said Thursday the trend of slowing inflation has been in place, and conditions ripened for a monetary policy reversal at an appropriate time, warning that market expectations over a potential rate cut seem to be somewhat excessiv
www.koreatimes.co.kr
Korea's central bank chief said Thursday the trend of slowing inflation has been in place, and conditions ripened for a monetary policy reversal at an appropriate time, warning that market expectations over a potential rate cut seem to be somewhat excessive.
condition ripens 조건이 무르익다, 여건이 무르익다
policy pivot 정책 피벗, 정책 중점
slowing = sluggish = slow-moving = lethargic = listless = quiet = unenergetic = lacking in energy 느릿한, 부진한, 느리게 움직이는
in place 가동중인, 제자리에 있는, ~을 위한 준비가 되어 있는, 가동할 준비가 되어 있는
monetary policy 금융 정책
fiscal policy 재정 정책
pecuniary loss 금전상의 손실
reversal = turnaround = turnabout = turnround = turn 전환, 호전, 급전, 반전
market expectations 시장 기대치
rate cut = interest rate reduction 금리 인하
rate hike = interest rate increase = rise in intereset rates 금리 인상
somewhat = rather = a bit = a little = a little bit = slightly = relatively = comparatively = moderately = to a certain degree = to a limited extent = fairly 다소, 약간
excessive = outrageous = over the top = exorbitant = extravagant = ridiculous = ludicrous = absurd = laughable = farcical = risible = unreasonable = preposterous 과한, 과도한, 지나진, 터무니없는, 가당찮은
In a widely expected decision, the monetary policy board of the Bank of Korea (BOK) kept its policy rate unchanged at 3.5 percent for the 12th consecutive session amid moderating inflation. "There has been progress in the trend of price stabilization, and things are for a timely turn (in the monetary policy)," BOK Gov. Rhee Chang-yong said in the press conference.
widely expected decision 충분히 예상된 결정
keep the rate unchanged 금리를 동결하다
policy rate 정책 금리
progress = advance = development = progression 진척, 진행, 나아감
price stabilization 가격안정, 물가 안정
timely = opportune = in due course = well-timed = in time 적절한 때에, 시의적절한, 적기의, 적시의
"But there are still risky factors, such as foreign exchange markets, home prices in Seoul and household debts. It is still uncertain when a policy reversal will take place, and it may take a longer time (for that)." he said. The BOK has continued to stand pat following rate freezes since February last year after delivering seven consecutive rate hikes from April 2022 to January 2023.
risky = dangerous = critical = inimical = detrimental = deleterious = hazardous = toxic = venomous = poisonous = noxious = virulent = nocuous = harmful = injurious = pernicious 위험한, 해로운, 치명적인
risky factor 위험 요인, 위험 인자
foreign exchange market 외환 시장
home prices 집값, 주택 가격
household debts 가계부채
poilcy reversal = change in policy direction = return to previous policy 정책 변화
policy turn = shift in policy direction = policy redirection 정책 전환
take place = happne = occur = traspire = come to pass 발생하다, 일어나다
stand pat (결심·견해를) 고수하다
standpat 현상 유지를 주장하는, 집요하게 보수적인
rate freeze 금리 동결
kee the rate unchanged 금리를 동결하다
deliver 하다, 내리다, 내놓다, 지키다, 산출하다, 넘겨주다, 인계하
consecutive = straight = in a row = a train of = a string of = a chain of = a series of = successive 연속적인, 연이은, 잇따른
The rate freeze came as household debt runs high despite an extended restrictive mode and inflationary pressure in Asia's fourth-largest economy showing signs of easing, while the country's economy is expected to grow faster than expected this year on the back of robust exports. The BOK said while maintaining a restrictive monetary policy stance for a sufficient period of time, it will assess the timing of a rate cut.
run high = intensify = heighten = compound = precipitate 고조되다, 격해지다
extended 늘어난, 길어진
restrictive = limited = restricted = constricted = confining 제한적인, 한정된
inflationary pressure 인플레이션 압력
show signs of ~할 조짐이 보이다
grow faster than expected 예상보다 빠르게 성장하다
on the back of (업적·성공)의 결과로
robust = sound = solid = strong = sturdy = firm = powerful = vigorous 견고한, 탄탄한
policy stance 정책 기조, 정책적 입장
Rhee said two board members expect the door to be opened for a potential rate cut within three months. "Market expectations for a potential rate cut are somewhat excessive," Rhee said. "The central bank will review the timing of any rate cut in consideration of currency rates, household debt and real estate prices."
rate cut = interest rate reduction 금리 인하
market expectations 시장 기대치
potential = probable = possible = likely = latent 잠재적인
excessive = outrageous = over the top = exorbitant = extravagant = ridiculous = ludicrous = absurd = laughable = farcical = risible = unreasonable = preposterous 과한, 과도한, 지나진, 터무니없는, 가당찮은
in consideration of = considering = given that = inasmuch as ~을 고려해 볼때,~을 고려해서
currency rate 환율
household debt 가계부채
real estate prices 부동산가격
Household loans extended by banks in Korea rose for the third consecutive month in June, led by a rise in mortgage loan growth, which makes the central bank remain cautious about cutting the rates. "Housing prices in Seoul and its surrounding areas have increased at a faster pace, and the downward trend in the rest of the country has continued," the BOK said.
household loan 가계대출
mortgage loan 주택담보대출, 담보융자
remain caution = take heed of = be prudent = take notice of = be careful = be cautious = beware of = watch out = keep alert = remain alert = remain vigilant = be discreet in 주의하다, 경계하다, 조심하다
surrounding = neighboring = nearby = close at hand = vicinal = in vicinity of = in the environs of = on the outskirts of = in the suburbs of 주변의, 주의의, 인근의
increase at a faster pace 빠른 속도로 증가하다
downward trend 하향세
upward trend 상향세
Rhee expressed concerns over a faster-than-expected rise in home prices in Seoul and the wider Seoul area. "The advance in home prices in the greater Seoul area is faster than expected ... I take it more seriously than before," he said. The governor said earlier this week that the country is expected to see a gradual easing of inflation.
express concerns over = worry about = be worried about ~에 대하 우려를 나타내다, ~을 걱정하다
faster-than-expected 예상보다 빠른
more seriously than before 전보다 더 심각하게
take it serious 진지하게 받아들이다
a gradual easing of ~의 점진적인 완화
Consumer prices rose 2.4 percent on-year in June, the lowest level since July 2023, and the central bank is expecting inflation to fall further down the road, reaching its mid- to long-haul target rate of 2 percent by the end of this year. The country continued to experience high inflationary pressure last year following the sharpest inflation in decades in 2022.
consumer prices 소비자 물가
on-year 여는해, 열매 열리는 해
down the road 장래에, 미래에
mid- to long-haul target rate of ~의 중장기 목표이율
inflationary pressure 인플레이션 압력
"Consumer price inflation is likely to modestly decline to the lower 2 percent range, and it is judged that it could be slightly lower than the May forecast of 2.6 percent for the year," the bank said. The rate freeze also came as the central bank heightened its growth projection for the year.
modestly = gently = nicely = with modesty = in a humble way 겸손하게, 얌전하게, 삼가서, 수수하게
heighten = run high = intensify = compound = precipitate 고조되다, 격해지다, 고조시키다
growth projection 성장 예상, 성장 예측
In May, the central bank jacked up its growth estimate to 2.5 percent for the year, up from its earlier projection of 2.1 percent, but slashed the 2025 growth outlook to 2.1 percent from 2.3 percent. The bank kept its inflation outlook at 2.6 percent for the year.
jack up 대폭 인상하다, 잭으로 들어올리다, 주사하다
growth estimate 성장 추정, 성장 추정치
projection = estimate = forecast = calculation = prediction = prognosis 예상, 예측, 추정
slash = cut = reduce = cut down = decline = lessen = drop = deplete = cut down = bring down = lower down = diminish 깎다, 감소하다, 줄이다
growth outlook 성장 전망
inflation outlook 인플레이션 전망
outlook = future = prospect = perspective = vista = view = point of view = viewpoint = climate = landscape = panorama 전망, 전경, 미래, 관점, 기후
Korea's economy grew at a higher-than-expected rate of 1.3 percent in the first quarter of the year, aided by a continued recovery in exports and a rise in construction investment. The first-quarter expansion beat the market estimate of 0.6 percent and the 0.6 percent on-quarter expansion in the September-December period. The reading marks the highest since the fourth quarter of 2021, when the economy expanded 1.4 percent. Last year, the economy expanded 1.4 percent, slowing from the previous year's 2.6 percent gain and the 4.1 percent advance in 2021.
higher-than-expected rate 예상율보다 더 높게
in the first quarter of this year 올해 일분기에
aided by ~에 힘입어, ~의 지원으로
beat the market estimation 시장 추정치를 능가하다
reading 읽을거리, 읽기 자료, 독서물, 독서, 읽기
mark the highst 최고점을 기록하다
The central bank's rate freeze followed the Federal Reserve's decision last month to hold its benchmark lending rate steady at between 5.25 percent and 5.50 percent for the seventh consecutive time. Amid easing inflationary pressure, the Fed is expected to start slashing the rate in September.
rate freeze 금리 동결
kee the rate unchanged 금리를 동결하다
Federal Reserve 미연방정부
benchmarke lending rate 기준 대출 금리
ease = dial down = allay = placate = pacify = appease = relieve = alleviate = lower = lessen = mitigate = soothe = assuage = calm 완화하다, 줄이다, 누그러 뜨리다
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