July 11, 2024 at 02:38AM
Bank of Korea comments on their policy decision today:
Will maintain restrictive policy stance for sufficient period of time
Will examine the
timing of a rate cut
Economy to continue
moderate growth
To monitor trend of
slowing inflation
To assess trade-off
between policy variables, such as growth and financial stability
Growth temporarily
weaken in q2
Gdp growth in line
with earlier forecast
Drops phrase ‘upside
risks to inflation forecasts have increased’ in policy statement
Inflation could be
slower than forecast
Core inflation seen
consistent with earlier forecast
Inflation 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.