Korea widens inflation target range

bank-of-korea

The Bank of Korea said on Thursday it would widen its inflation target band to between 2% and 4% starting next year. Its previous target band, set in 2007, was 2.5%-3.5%.

"If a need arises to adjust the inflation target owing to factors such as unexpected foreign and domestic economic shocks, or changes in economic conditions, it will be reset in consultation with the government," the central bank said.

While the core target value, at 3%, remains the same, the central bank has effectively given

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