US EditionIncoming Bank of Korea chief signals potential for hawkish shift amid ...
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9 Articles
BOK Governor Nominee Flags Inflation Risks, Excess Won Moves
(Bloomberg) — South Korea’s central bank governor nominee Shin Hyun Song warned that soaring oil prices and a weaker won are likely to push inflation higher, while weighing on economic growth, highlighting the policy challenges he is likely to face at the start of his tenure.
The Korean won has remained relatively weak in recent months, but the country has sufficient dollar liquidity to respond to external shocks, Shin Hyun-song, nominee for the head of South Korea's central bank, said Wednesday. Shin made the remarks during a confirmation hearing at the National Assembly in Seoul, as he has been tapped to replace outgoing Bank of Korea (BOK) Gov. Rhee Chang-yong. “It is not appropriate to comment on the specific lev…
Shin Hyun-song, the nominee for Governor of the Bank of Korea, expressed concern that inflation could gradually increase and GDP growth could slow due to the situation in the Middle East. He also stated that future decisions on the base interest rate would be made in consideration of financial stability and economic growth. Shin made these remarks during his opening statement at the confirmation hearing held at the National Assembly’s Finance, E…
South Korea’s Next Central Banker Is Already Rewriting the Script on Interest Rates
The won is sliding. Import costs are surging. And the man about to take the helm of the Bank of Korea is making it clear he won’t simply continue the easing cycle his predecessor set in motion. Cho Kyung-sik, South Korea’s incoming central bank governor, told lawmakers during his confirmation hearing this week that the country’s weakening currency and rising import prices demand a fundamentally different calculus on monetary policy. His comments…
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