The leaders of South Korea and China were set to hold a bilateral summit on Thursday in Beijing as their countries are seeking to find ways to peacefully end North Korea's nuclear ambition and normalize ties.
According to the Moon's presidential office of Cheong Wa Dae, the meeting between President Moon Jae-in and his Chinese counterpart Xi Jinping will follow an official reception.
The four-day trip is also scheduled to take him to the southwestern city of Chongquing. North Korea will likely be the top of this agenda as it follows the North's launch of an ICBM late last month.
Nam Gwan-pyo, deputy director of the presidential National Security Office, said earlier, the two leaders are scheduled to hold in-depth discussions on ways to peacefully resolve the North Korean nuclear issue and establish peace on the Korean Peninsula.
Meanwhile,The US Federal Reserve is raising its key interest rate by 0.25% as it posts solid economic growth and a labor market continues to strengthen.
Wrapping up their two-day meeting in Washington, Federal policymakers cited the "strong" U.S. jobs market and a sharp pick up in household and business spending for its decision and they also expect to raise rates three more times in 2018.
The majority of policymakers also agreed that the U.S. rates will likely top two percent within the next year.
In response to the U.S. Federal Reserve's decision, Bank of Korea Governor Lee Ju-yeol told reporters that he doesn't see this move as signs of preferring aggressive measures as they were no immediate signs of capital flight from the country since the move by the U.S. Fed has been widely expected.
It also pointed to Korea's strong fundamentals with the economy forecasted to grow 3% this year on exports. But the BOK says it could impact South Korea's interest rates in the long term. To counter such risks, the BOK has already raised its benchmark interest rate by a quarter-percent to 1.5% last month its first rate hike in almost seven years/
Source: Arirang News
No comments:
Post a Comment