Bank of Korea comments on their policy decision today:
- Will maintain restrictive policy stance for sufficient period of time
- Will examine the timing of a rate cut
- Economy to continue moderate growth
- To monitor trend of slowing inflation
- To assess trade-off between policy variables, such as growth and financial stability
- Growth temporarily weaken in q2
- Gdp growth in line with earlier forecast
- Drops phrase 'upside risks to inflation forecasts have increased' in policy statement
- Inflation could be slower than forecast
- Core inflation seen consistent with earlier forecast
- Inflation will gradually converge on the target level
Earlier:
