Most Popular
-
1
Thousands rally in Seoul to call for Yoon's resignation
-
2
Suicide attempts spike among youth in Korea
-
3
Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
-
4
FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
-
5
[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
![[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/09/27/20240927050701_0.jpg&u=)
![[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/09/27/20240927050701_0.jpg&u=)
-
6
Korean American documentary ‘Free Chol Soo Lee' wins Emmy
-
7
Immigration policy must go beyond labor supply: experts
-
8
S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
-
9
Opposition mulls delay of financial investment income tax
-
10
‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
The turnover rate for demand deposits dropped to a near 9-year low in January, indicating that more people are choosing to keep their money in banks, rather than spend or invest.
Data from the Bank of Korea on Thursday showed January’s turnover rate sat at 21.2, the lowest since February 2007.
Lower turnover indicates fewer withdrawals, meaning consumers are holding on to their cash despite the central bank’s efforts to pump more money into the economy by keeping key rates at record lows.
After a cut to 1.5 percent in June last year, the BOK has refrained from further changes.
(khnews@heraldcorp.com)
Data from the Bank of Korea on Thursday showed January’s turnover rate sat at 21.2, the lowest since February 2007.
Lower turnover indicates fewer withdrawals, meaning consumers are holding on to their cash despite the central bank’s efforts to pump more money into the economy by keeping key rates at record lows.
After a cut to 1.5 percent in June last year, the BOK has refrained from further changes.
(khnews@heraldcorp.com)
-
Articles by Korea Herald
![[Herald Interview] Vanner sings about ordeal of being young in 3rd EP ‘Burn’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/09/29/20240929050183_0.jpg&u=)