BOK urged to focus on long-term inflation target

KOREA - The central bank should set its inflation target on a medium- or long-term basis rather than on an annual basis to maintain price stability more effectively, economic experts said at a seminar on inflation held at the Bank of Korea (BOK) in downtown Seoul yesterday.

Many of the economists in attendance shared the view that the central bank's inflation target should be managed on a two- to three-years basis, the Korea Times reported.

Kim Ki-hwa, a professor at Korea University, said that