[입이트이는영어] Bank of Korea / 한국은행

2020.04.14

 

 

[Study Group Questions]

1. How is the Bank of Korea different from other banks?
2. Where do you gain information about the economy?
3. How would you explain what the base interest rate is?
 

SPEECH PRACTICE

Talk about the Bank of Korea.

Korea's central bank is the Bank of Korea.

It's where Korea's fiscal policies are put in place.

The bank governor is newly appointed every four years.

The primary role of the central bank is to determine the base interest rate.

The interest rate is raised to prevent the economy from overheating, or to curb inflation.

But to stimulate the economy, the bank lowers the interest rate.

By doing so, it puts more money into circulation in the market.

The Bank of Korea also prints money and distributes it.

It also keeps an eye on Korea's foreign exchange reserves.

Sometimes, it also privides loans to the government or other commercial banks.

한국의 중앙은행은 한국은행이다. 한국은행은 우리나라의 통화 정책을 수립하는 곳이다. 한국은행의 총재는 4년마다 새로 임명된다.
중앙은행의 가장 중요한 역할은 기준 금리를 정하는 것이다. 경기의 과열을 막거나, 물가 상승을 억제하기 위해서는 금리를 상향 조정한다. 반대로 경기를 부양하기 위해서는 금리를 낮추기도 한다. 이렇게 할 경우, 시중에 자금이 더 풀리게 된다.
한국은행은 화폐를 인쇄하고 유통시키기도 한다. 또한 우리나라의 외환 보유고를 관리한다. 가끔 정부와 여러 시중 은행에 자금을 빌려주기도 한다.
 

[Key Expressions]

central bank 중앙은행
fiscal policy 통화 정책
be put in place 수립되다, 적용되다
bank governor 은행 총재
newly appointed 새롭게 임명된
the primary role of ~의 주요 역할
base interest rate 기준 금리
overheating 과열
curb inflation 물가 상승을 억제하다
stimulate the economy 경기를 부양하다
put money into circulation 자금을 시장에 풀다
print money 화폐를 인쇄하다
distribute 유통시키다
keep an eye on 관리하다, 감시하다
foreign exchange reserves 외환 보유고
provide loans to ~에게 대출을 해 주다
commercial bank 시중 은행
 

[Pattern Practice]

1. be put in place 수립되다, 적용되다
The Bank of Korea is where Korea's fiscal policies are put in place.
The new rules haven't been put in place yet.
I think new laws should be put in place right away.

2. the primary role of ~의 주요 역할
The primary role of the central bank is to determine the base interest rate.
The primary role of parents is to guide their children.
What is the primary role of this part?

3. keep an eye on 관리하다, 감시하다
The central bank keeps an eye on Korea's foreign exchange reserves.
I kept an eye on the pot while I washed the dishes.
Someone has to keep an eye on the office during the holidays.
 

[Dialogue Practice]

A: The Bank of Korea froze the base interest rate.
B: Yeah. A lot of people thought they would lower it, but that's what went down.
A: Shouldn't they lower the rate to stimulate the economy?
B: I don't know. I guess they decided now is not the time.
A: I suppose so.
B: When will they decide on the base interest rate again?
A: I think it's in a few months' time.
B: We'll have to wait and see what happens then.

A: 한국은행이 기준 금리를 동결했어.
B: 응. 많은 사람들이 금리 인하를 예상했는데, 그렇게 됐네.
A: 금기를 인하해서 경기 부양을 해야 하지 않을까?
B: 글쎄. 아직 그 시점이 아니라고 판단했나 봐.
A: 그런가 보네.
B: 다음 기준 금리 결정이 언제지?
A: 몇 개월 후인 것 같아.
B: 그때 어떻게 되는지 지켜봐야겠네.
 

[Key Expressions]

freeze the base interest rate 기준 금리를 동결하다
what went down 일어난 일
stimulate the economy 경기를 부양하다
now is not the time 적합한 시기가 아니다
decide on 결정하다
in a few month's time 몇 개월 후에
wait and see 두고 보다, 지켜보다