Bank of Korea considering forward guidance reform

Governor Rhee Chang-yong sees merit in revealing more information to public

Rhee Chang-yong
Rhee Chang-yong
IMF/Stefani Reynolds

Bank of Korea (BoK) governor Rhee Chang-yong said the central bank is currently conducting a review of its forward guidance principles, including examining the possibility of providing longer-term forecasts on future policy rate movements.

“We are currently thinking about whether we are going to extend the horizon [of forward guidance on policy rates] from three months to one year, or even longer,” he told an audience at the International Monetary Fund’s (IMF) Spring Meetings on April 17.


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