Asia Pacific
S.Korea's financial experts pick global trade conflict as key risk factor
Last Updated: 2018-12-05 16:55 | Xinhua
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South Korea's financial experts picked the trade conflict among major economies as the most serious risk factor facing the country's financial system, central bank survey showed Wednesday.

According to the Bank of Korea (BOK) poll of 86 experts in financial institutes and companies, 81 percent selected the deepening of global trade conflict as the most serious risk factor for the financial system.

It was followed by the domestic economy's slowdown and the normalized monetary policies in advanced economies.

Concerns were eased about the trade conflict, but uncertainties remained over the rekindled conflict in global trade.

The BOK raised its benchmark interest rate from 1.50 percent to 1.75 percent in late November, which was forecast to weight down on the domestic economy.

It followed the U.S. Federal Reserve's rate hike by a quarter percentage point in September to a range of 2.00-2.25 percent.

Worries lingered among local experts about the country's massive household debts and the high housing price.

Households had rushed to buy new home with borrowed money amid the prolonged low-rate trend, which boosted concerns about the bubble burst in the real estate market.

The BOK's rate increase last month was expected to increase debt-service burden for households.

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