Lates News

Bank of Korea Governor Lee Ju-yeol said on Thursday at a parliamentary committee meeting that the Bank of Korea believes it is necessary to tighten monetary policy as strong growth led by semiconductors continues to support the economy. He stated that it is necessary to raise interest rates "at the appropriate time in the future", and the timing of rate hikes will depend on the level of inflation pressure, the pace of economic recovery, and the state of financial stability. Lee expects that the enhanced demand brought by economic recovery will offset the downward pressure of global oil prices, and consumer inflation will remain above target levels. The next policy meeting of the Bank of Korea is scheduled for July 16th.