South Koreas weak exports, easing prices may keep rates on hold

SEOUL (Reuters) -South Korean exports tumbled for the first 20 days of March and producer inflation eased last month, data showed on Tuesday, reinforcing expectations the central bank will not raise interest rates further amid current market turbulence.

首尔（路透社）——周二公布的数据显示，韩国 3 月前 20 天出口大幅下滑，上月生产者通胀有所缓解，强化了在当前市场动荡的情况下央行不会进一步加息的预期。

Asias fourth-largest economy contracted last quarter for the first time in 2-1/2 years hurt by a slowdown in global demand for its exports and high household debt.

由于全球对其出口的需求放缓和高家庭债务，亚洲第四大经济体上个季度出现 2-1/2 年来的首次收缩。

The countrys shipments for the first 20 days of March fell 17.4% from the comparable period of last year even though there was one more working day this year, led by a whopping 36.2% dive in sales to China, customs agency data showed.

海关机构数据显示，尽管今年多了一个工作日，但该国 3 月前 20 天的出货量较去年同期下降了 17.4%，其中对中国的销售额大幅下降了 36.2%。

Bank of Korea data earlier in the day showed the producer price index (PPI) in February was 4.8% higher than a year earlier, with the pace of increase slowing for an eighth consecutive month.

韩国央行当天早些时候的数据显示，2 月份生产者物价指数 (ppi) 比去年同期高 4.8%，增速连续第八个月放缓。

Economists said these figures confirmed the broad market expectations for weakening economic growth and easing inflation, raising more doubts about the central banks tightening stance.

经济学家表示，这些数据证实了市场对经济增长放缓和通胀放缓的广泛预期，引发了对央行收紧立场的更多疑虑。

“Inflation will continue to slow and the economic growth will be so-so in the future, and now the overseas banking sector crisis will eventually have an impact here,” said Moon Hong-cheol, economist at DB Financial Investment.

db financial investment经济学家moon hong-cheol表示：“通胀将继续放缓，未来经济增长将如此，现在海外银行业危机最终将对这里产生影响。”

South Koreas central bank kept the policy interest rate unchanged at its last meeting on Feb. 23, ending a year of uninterrupted rate increases to fight inflation. It next meets on April 11.

韩国央行在 2 月 23 日的最后一次会议上维持政策利率不变，结束了为对抗通胀而持续加息的一年。下一次会议将于 4 月 11 日召开。

The liquidity troubles at U.S. and European banks have sharply increased the volatility in financial markets, and South Korea is also worried about the indirect effects from the turmoil.

美国和欧洲银行的流动性问题急剧增加了金融市场的波动性，韩国也担心动荡带来的间接影响。

“The government is closely watching the situation as volatility in global markets has increased in relation to the failure of Silicon Valley Bank and the liquidity crisis at Credit Suisse,” Minister for Trade Ahn Duk-geun said while presiding over a meeting on exports.

“由于硅谷银行倒闭和瑞士信贷的流动性危机导致全球市场波动加剧，政府正在密切关注局势，”贸易部长安德根在主持出口会议时表示。

(Reporting by Choonsik Yoo; Editing by Muralikumar Anantharaman and Jacqueline Wong)

（choonsik yoo 报道；muralikumar anantharaman 和 jacqueline wong 编辑）