Korea's target hits its aims
By having an explicit inflation target, the Bank of Korea is taking the optimum route to price stability, posits a new paper from the European Central Bank.
The research finds that Korea's experience since the implementation of explicit inflation targeting in 1999 has been satisfactory with inflation being relatively low and stable. The paper also shows that though the central bank puts little emphasis on the volatility of both output and the won's exchange rate, in practice these variables do
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