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


Bank of Korea