Bank of Korea leaves key interest rate unchanged
SEOUL • South Korea's central bank left its key interest rate unchanged for a seventh month yesterday, even as it cited a weakening recovery in cutting its 2017 growth forecast.
The Bank of Korea said exports are likely to improve but noted slowing economic growth in the fourth quarter of last year. The bank kept the seven-day repurchase rate at a record-low 1.25 per cent.
McDonald's invites bids for stake in Japan unit
TOKYO • McDonald's Corp is inviting bids for the sale of a 33 per cent stake in its Japan unit McDonald's Holdings Co Japan Ltd, the Wall Street Journal reported, citing people familiar with the situation.
The fast-food company owns just under 50 per cent of the unit. Bids are due next week and some private-equity firms are considering bids, the Journal reported.