Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University.
Professor Kim, good to have you back on.
The Bank of Korea today decided to keep its key interest rate where it is at an all-time low. There's been a degree of pressure on the BOK to raise rates under certain circumstances. But it seems this decision is related to the fourth wave of the virus. Tell us about this decision at the BOK.
Inflation in the U.S. last month was at its highest since the financial crisis 13 years ago consumer prices rising by 5.4 percent from a year earlier. Fed Chair Jerome Powell, though, saying he still expects inflation to come down and he's not planning to raise rates sooner than previously forecast. Professor, tell us about what's happening with inflation.
Stocks on Wall Street overnight were mixed. Tech shares on the Nasdaq closed lower again, but it was a gain on the S&P and the Dow. What's the story in the global markets?
Korean stocks higher today too, largely, it seems, on Powell's comments. The KOSPI getting a little closer to that 33-hundred mark it crossed recently. The KOSDAQ with an even bigger gain. Tell us about the domestic market.
In Korea, data show that import prices rose last month again to their highest level in six years and nine months. Export prices too up for a seventh month in a row. What's behind the rise in prices coming in and going out?