Korean central bank warns of deflation risk

- Central Banking staff
- 21 Nov 2002

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The Korean nation had better be prepared in the event deflation should spring up, the Bank of Korea (BOK) has said. The bank fears a Japan style downward spiral of prices, but acknowledged the fear was low.

The Korea's central bank said that there is a chance the nation will undergo deflation because of housing price hikes and mounting debts in the household and corporate sectors, though the possibility remains low.

''If unexpected economic recession and a burst of the real estate bubble were

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