BOK maintains hawkish stance

Bank of Korea governor Lee Seong-tae said on Monday 10 July that the central bank will take preemptive action to curb increased pressure on inflation.

"We've put the top priority of our monetary policy on curbing inflationary pressure resulting from economic recovery," Lee said in a speech to senior BOK officials. "We will take preemptive steps to fight inflation, as we have done since last October."

``We believe inflationary pressure is now building faster on high oil prices and the recovering