South Korea's consumer inflation faltered to its slowest on record in Augus...
SEOUL - South Korea’s consumer inflation faltered to its slowest on record in August while second quarter economic growth was revised down on weaker exports, firming up the case for central bank rate cuts as early as next month.
The consumer price index was unchanged in August from a year earlier, Statistics Korea data showed, missing the 0.2% rise tipped in a Reuters survey and marking the weakest pace since the country began releasing inflation data in 1965. Despite this assurance, treasury bond prices rose broadly with the benchmark 10-year yield KR10YT=RR shedding 1.5 basis points to 1.285% as of 0228 GMT, far below the central bank’s policy rate of 1.50%.
South Korea’s inflation has been extremely weak by historical standards and a long way off the central bank’s 2%target as consumers and companies tighten their spending.
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