Bank of Korea Governor Rhee says oil prices will continue higher than expected

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
  • 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 Source