Spending Money: Bok and Activity Report

spending money: The US Federal Reserve's interest rate hike in December, the spreading protectionist moves and political uncertainty were cited by the BOK as downside risk factors to the economy, according to Global Times China. The impeachment of President Park Geun-hye increased economic uncertainty in the absence of control tower, leading consumers to refrain from spending money. The BOK said in its activity report to the National Assembly that uncertainties about the Asia's No.4 economy's growth path got big in consideration of altered conditions at home and abroad. Facility investment also worsened. The BOK cut its policy rate from 3.25 percent in July 2014 to an all-time low of 1.25 percent in June this year. After lifting the benchmark rate in December, the Fed indicated three rate hikes in 2017, boosting worries about possible foreign capital exodus from the South Korean financial market. (news.financializer.com). As reported in the news.