Bank of Korea to assess inflation, growth for rate hikes, board member says
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
SEOUL, Sept 22 : A board member of the Bank of Korea said on Tuesday the central bank will determine the timing and pace of further interest rate hikes by closely assessing inflation, economic growth and financial stability.
• "Going forward, factors such as accumulating financial imbalances, sector-specific income improvements, global market trends and geopolitical risks will likely shape financial stability," Chang Yong-sung said in remarks released with the central bank's financial stability report.
• To prevent financial imbalances from deepening, Chang stressed the need to operate monetary and macroprudential policies in a complementary manner, while seeking policy coordination with fiscal and financial authorities to micro-manage difficulties faced by vulnerable groups.
• The BOK on August 27 raised its benchmark interest rate by a quarter percentage point to 3.00 per cent, delivering a second straight increase as inflation remained above target and financial stability risks persisted.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app