Earlier from the Bank of Korea:
- Bank of Korea says it’s too early to be sure inflation will converge to target level
Governor Rhee now:
-
Friday’s rate decision was unanimous
- One in seven board members said the door to a rate cut should be open in the next three months.
- Uncertainties over the inflation outlook are higher
- All seven members said it was difficult to predict policy decisions for the second half
- Rate cuts could be difficult this year if inflation remains high
- Did not report a rate cut
- Have more room to focus on domestic conditions when making monetary policy decisions this year than last year
- Oil prices are higher than expected
- Recent Won Weakness Affected by US Dollar Strength
- WE
The Fed’s pivot signal made it possible to decouple Korean monetary policies.
This article was written by Eamonn Sheridan at www.forexlive.com.
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