SEOUL: South Korea's central bank warned on Thursday (Jun 8) that an early shift in its monetary policy stance could pile more pressure on the local currency, a risk that needs to be properly addressed. Highly uncertain inflation, accumulated financial imbalance, and credit risks related to the real estate
SEOUL: South Korea's central bank warned on Thursday that an early shift in its monetary policy stance could pile more pressure on the local currency, a risk that needs to be properly addressed.
"Additional rate hikes by the US Federal Reserve or an early shift in the domestic policy stance may increase downward pressure on the local currency," the Bank of Korea said in its quarterly monetary policy report submitted to parliament. The current policy interest rate of 3.50 per cent, the highest since late 2008, is at a restrictive level, slightly above the neutral range, the Bank of Korea said.However, the central bank said the degree of restrictiveness has lessened significantly this year with a sharp fall of interest rates in local financial markets.
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