Earlier from the Bank of Korea:
Governor Rhee now:
- Friday’s rate decision was unanimous
- One in seven board
member said door for a rate cut should be open for next three-months - Uncertainties to
inflation outlook higher - All seven members
said hard to predict policy decisions for the second half - Rate cuts might be
difficult this yr should inflation remain sticky - Have not signaled
for a rate cut - Have more room to
focus on domestic conditions in deciding monetary policy this yr than
last - Oil prices are going
higher than expected - Won’s recent weakness affected by strong US dollar
- US
Fed’s signal for pivot allowed monetary policies here in korea to be
decoupled from it
This article was written by Eamonn Sheridan at www.forexlive.com. Source