|South Korea Joins Global Currency War, Cuts Rates In Response To Abenomics|
|ZeroHedge, 09/05/2013 (traduire en Français )|
Kenya, Australia, Poland and now South Korea. The country, whose net exports represent nearly 60% of GDP, and which have been deeply impacted by the recent collapse in the Yen, finally threw in the towel overnight and cut the benchmark seven-day repurchase rate from 2.75% to 2.50%, as only 6 of 20 economists predicted. The reason the move was surprising is that just like China, which overnight reported CPI of 2.4% on expectations of 2.3%, the country still has pent up inflation concerns, however it appears that preserving economic growth and its export potential is more important to the country bordered by North Korea, than price stability. The result of this largely unexpected move is a strengthening in the Yen overnight, if only by some 30 pips in the USDJPY.
Comme d'habitude, ça va finir en giga bulle immobilière tout ça, et en transfert massif des revenus des jeunes vers les vieux...