Incoming BOK Governor Sees Korea Rate Increase Looming: Economy
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Incoming Bank of Korea Governor Lee Ju Yeol said South Korean households need to prepare for higher interest rates, bolstering analysts’ forecasts for an increase as inflation picks up.
“Even when the government asks the central bank to play a role in boosting the economy, the Bank of Korea should decide after considering price stability and all other aspects of the economy, such as financial stability, growth and employment,” Lee wrote in a document in response to questions by opposition Democratic Party lawmaker Kim Hyun Mee.