Bank of Korea comments on their policy decision today:
Will maintain restrictive policy stance for sufficient period of timeWill examine the
timing of a rate cutEconomy to continue
moderate growthTo monitor trend of
slowing inflationTo assess trade-off
between policy variables, such as growth and financial stabilityGrowth temporarily
weaken in q2Gdp growth in line
with earlier forecastDrops phrase ‘upside
risks to inflation forecasts have increased’ in policy statementInflation could be
slower than forecastCore inflation seen
consistent with earlier forecastInflation will gradually converge on the target level
Earlier:
Bank of Korea monetary policy meeting – leaves base rate unchanged @3.5%
This article was written by Eamonn Sheridan at www.forexlive.com.
