Bank of Korea keeps rate at 3% after two consecutive hikes
Inflation eased to 2.9% in September but remained above target, while strong exports supported growth.
Japan's major banks report stronger corporate demand for funding
A Bank of Japan survey showed demand improving despite rate increases, as the central bank assesses how earlier tightening is affecting corporate financing.
Major Japanese banks reported stronger demand for corporate financing than three months earlier, a Bank of Japan survey showed on October 22, suggesting recent interest rate increases have not yet tightened financial conditions.
The survey's diffusion index for corporate funding demand reached +3, up from -1 in the previous survey. A positive figure means banks reporting an increase in demand outnumbered those reporting a decline. The BOJ surveyed lenders between September 9 and October 13.
The central bank has said it will examine the impact of earlier rate increases on corporate financing as it judges how near its policy rate is to a level it considers neutral for the economy.
On September 18, the BOJ lifted its policy rate to 1.25%, the highest in 31 years. It also signaled a shift toward preventing inflation from exceeding its 2% target.