Bank of Korea Governor "Expect price stability despite exchange-rate rise… due to oil prices and demand↓"
Korea Economic Daily
Summary
- Lee Chang-yong, Governor of the Bank of Korea, said prices will be maintained despite an exchange-rate rise.
- He stated that oil prices have fallen by about 18%% so far this year.
- He said economic growth is below potential growth, so there is almost no demand pressure.
Lee Chang-yong, Governor of the Bank of Korea, said, "Even if the exchange rate rises, prices will be maintained."
The governor made the remark at a press conference held immediately after the Bank of Korea's Monetary Policy Board kept the policy rate at an annual 2.50%, saying, "We are watching closely the possibility of price increases due to the exchange rate."
He said, "Oil prices have fallen about 18% so far this year," and added, "Economic growth is also below potential growth, so there is almost no demand pressure."
Kim Dae-young, Hankyung.com reporter kdy@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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