SKorea raises interest rate for first time in 6 yrs

SEOUL: South Korea on Thursday lifted

six years, citing a strong economic recovery, and possibly leading the way for similar actions from other Asian central banks.

we will thoroughly monitor the series of upbeat readings on Asia’s basic flow of growth and inflanumber four economy that have - told reporters. national Monetary Fund lift their Thursday’s announcement comes growth forecasts and despite an in creasingly belligerent Pyongyang. a run of increases by the Federal

Reserve, which many fear could lead to 1.5 percent, up 25 basis points - - ing to a “solid trend of domestic ter and safer returns. economic growth”, adding there have been moderate improvealready lifted rates three times ments in private consumption and since December, is expected to strong growth in exports. press on with its tightening in 2018

as the world’s top economy im- cuts and spending measures.

down one percent in Asian trade.

its growth forecast for this year to three percent, saying it expects sound recovery led by exports to continue, while the IMF improved “strong momentum”.

Capital Economics, said: “The over the next year.”

rebound in tourism from China will over the coming quarters.

China has reportedly resumed limited tour group visits to South between the two countries, which were strained earlier this year by Seoul’s installation of a US missile defence system.

However, Tan warned: “Aggressive tightening could cause prob - holds, who have debts equivalent to 90 percent of GDP.”

of research at Standard Chartered half of 2018 “since the recovery in - lems for indebted households”.