Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University.
Professor Kim, good to have you back on today. Thank you for making time.
The Bank of Korea has now raised interest rates two months in a row for the first time since 2007. They decided to do this despite the dampening effect it could have on the economy. Why is that, and what do you make of this decision?
The BOK has also raised its forecast for inflation. It's also lowered its forecast for GDP growth because of the slowdown in China and soaring commodity prices. What do you make of these projections from the BOK?
The Federal reserve is widely expected to take several more so-called big steps on rates this year 50 basis points each time. Minutes from last months meeting show most members support that. What came out of the Fed minutes released on Wednesday?
Finally, Professor, the Fed minutes seemed to be encouraging for investors. Stocks on Wall Street closed higher overnight the Nasdaq by 1-and-a-half percent. Korean stocks today were a mix, though. What's been the impact of these central bank moves on the markets?