Bank of Korea board members do not see urgency to cut interest rates due to economic recovery and elevated inflation.
Bank of Korea board members see no urgency to cut interest rates, as the South Korean economy recovers and inflation remains elevated. Most members believe it's too early for a pivot in monetary policy, prioritizing price stabilization. Inflation expectations are high at 3%, and the board will closely monitor economic trends and inflationary pressures before considering policy adjustments.
March 12, 2024
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