BoK economists discuss policy responses to ‘super ageing’
In Do Hwang and Boreum Kwak speak about the actions South Korea should take amid critically low birth rates
The Bank of Korea’s operating environment is being rapidly reshaped as South Korea faces some of the most rapid demographic changes in the world.
New research by BoK economists finds population ‘super ageing’ is likely to depress the economy across a range of indicators and leave the central bank with more limited policy space.
Lower real rates will make hitting the zero-lower bound more likely, while weaker profits will erode bank capital buffers. Both inflation and growth are also likely to fall
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