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FinMin Cautions On Inflation


The won continues its move higher, USD/KRW last down 3.55 at 1160.15, off session lows at 1115.20.

  • South Korean Finance Minister Hong was on the wires, he noted that the IMF report that upgraded global growth forecasts meant that growth in South Korea could also rise above forecasts, adding that a recovery in the US would boost South Korean exports. Hong also said that a recovery expectation could increase caution on inflation. Data last week showed March CPI rose 1.5% y/y, up from February's 1.1% gain and the fastest since January 2020; inflation picked up as oil prices remain high and consumer demand starts to recover after a year of slump

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