Sees Inflation Above Target For A While

At the press conference accompanying the rate announcement the BoK says that further adjustments depends on virus, growth and inflation - leaving itself some flexibility for action at the November meeting and further down the line. Maintains an accomodative bias, stating it will conduct monpol to sustain the recovery.

• BoK was positive on the economy saying the domestic recovery was continuing, noting exports as a bright spot and improvement in private consumption.
• Keeps economic growth forecast unchanged at 4%, says inflation to run above projections made in August specifiying the mid-2% level for a while. August forecast was 2.1%.
• Notes that household loans remain at a high level, and mentions housing prices have increased rapidly.