Bank of Korea to Assess Conditions to Determine Pace and Timing of Tightening, Says Board Member
The central bank will judge inflation, financial stability and the effects of two recent hikes before deciding on more tightening.
- On Thursday, Bank of Korea board member Kim Jong-hwa stated the central bank will assess internal and external conditions to "determine the timing and pace of additional hikes."
- The BOK raised its benchmark interest rate to 3.00 per cent last month, delivering a second straight increase as inflation stays above target and financial stability risks persist.
- Economic growth remains robust, but Kim emphasized that price pressure from the Middle East conflict and the semiconductor export boom are the most significant policy factors.
- The BOK will closely monitor the economic impact of the previous two rate hikes as inflation continues to exceed the target level for a considerable period.
- Global AI investments, which are currently fueling South Korea's semiconductor export boom, are expected to expand for a considerable time amid growing demand and intensifying competition.
12 Articles
12 Articles
Channel News Asia
Bank of Korea to assess conditions to determine pace and timing of tightening, says board member
SEOUL, Sept 10 : A board member of the Bank of Korea said on Thursday the central bank would assess external and internal policy conditions, including the impact of the previous two rate hikes, to determine the timing and pace of further tightening. • "I think it is necessary to assess changes in external a
Kim Jong-hwa, a member of the Bank of Korea’s Monetary Policy Committee, stated on the 10th regarding the timing of future benchmark interest rate hikes, “We must closely examine the impact of the past two rate hikes.” Kim’s remarks were revealed through the “Message from the Lead Member” in the Monetary and Credit Policy Report released by the Bank of Korea on the same day. This is in the same vein as Bank of Korea Governor Shin Hyun-song’s sta…
(Seoul = Yonhap News) Reporter Han Ji-hoon = The Bank of Korea stated on the 10th regarding future operations of the base interest rate, "We will decide the timing and pace of additional hikes while monitoring changes in domestic and external conditions..."
Given that robust growth and inflation exceeding target levels are expected to continue for a considerable period, the timing and pace of additional hikes will be determined while monitoring changes in domestic and external conditions.
Social News XYZ
BOK to weigh timing, pace of further rate hikes amid growth, inflation
Seoul, Sep 10 (SocialNews.XYZ) The Bank of Korea (BOK) said on Thursday it will decide the timing and pace of further rate hikes while reviewing domestic and external conditions, as accelerating inflation and solid economic... - Social News XYZ
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