Bank of Korea Maintains a Loose Monetary Stance
January 13, 2017
At this year’s first interest rate policy meeting, officials at the Bank of Korea left the seven-day repo rate at a record low of 1.25%, its level since a 25-basis point cut last June. Similarly sized reductions were engineered in August and October of 2014 and March and June of 2015. A statement released today noted a recent slowdown of growth and projected subdued inflation.
Consumer price inflation will gradually rise to near the 2% target level by around the middle of 2017, on the effects mainly of the increases in international oil prices, and core inflation will maintain a level in the mid- to upper-1% range.
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Tags: Bank of Korea