Bank of Korea holds rates and raises inflation forecasts
Governor says interest rates could stay high for more than six months
The Bank of Korea (BoK) kept its key policy rate unchanged today (November 30) and signalled it may need to keep interest rates high into mid- 2024 to curb inflation. In a unanimous decision, the central bank’s seven-member monetary policy board kept the base rate at 3.5% for the seventh straight meeting. It has raised the rate by 300 basis points since August 2021.
The central bank also raised its inflation forecasts for this year from 3.5% to 3.6%, and next year’s projections from 2.4% to 2.6
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity