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MNI BRIEF: BOK Leaves Policy Rate Unchanged At 3.5%

The Bank of Korea board left its key policy rate unchanged at 3.5% and maintained its growth forecast at 2.1%, noting inflation may rise slightly before falling further, according to a BOK statement on Thursday.

"While it is forecast that domestic economic growth will continue its improving trend and that inflation will maintain its slowing trend, it is premature to be confident that inflation will converge on the target level,” the board noted.

The BOK judged uncertainty on domestic and external policy remained high. “The Board, therefore, will maintain a restrictive policy stance for a sufficiently long period of time until the Board is confident that inflation will converge on the target level.”

Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsAPACSouth KoreaBriefStoryRegion
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Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Central Bank NewsPolicy NewsAPACSouth KoreaBriefStoryRegion
True

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