Bank of Korea’s Shin Calls for Timely Rate Hikes, Warns Inflation Will Stay Above Target

businessmacroeconomicsworldsouth-korea 5 posts · 3 accounts

Bank of Korea Governor Shin said interest rates should be raised without delay, signaling that policy tightening needs to proceed on time. He also said inflation is likely to remain above the central bank’s target for a prolonged period.

The remarks come as South Korea is feared to face rising inflation and a slower job market amid the Middle East war, according to Yonhap. That backdrop leaves the Bank of Korea balancing persistent price pressures against a weakening labor market.

From the sources (5 posts)

@firstsquawk

South Korea’s central bank chief Shin stated that interest rates need to be increased without delay.

@financialjuice

Bank of Korea Governor Shin: Timely interest rate hikes essential

@financialjuice

Bok Gov Shin: Inflation to surpass target for prolonged period

@firstsquawk

S. Korea feared to face inflation, slower job market amid Middle East war-YONHAP

@reutersworld

Bank of Korea governor says interest rates to be raised 'on time'

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