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Central Banks

Bank of Korea’s Rhee Keeps Door Open for Outsized Rate Hike

  • Rhee Chang-yong speaks to Bloomberg TV at Jackson Hole
  • Higher US rates may further weaken Korea’s won, Rhee says
Bloomberg business news
WATCH: BOK Governor Rhee said he would join Fed Chair Powell in bolstering the fight against inflation if prices remain out of control.Source: Bloomberg

Bank of Korea Governor Rhee Chang-yong said he would join Federal Reserve Chair Jerome Powell in tightening the focus on inflation if prices remain out of control, keeping the door open for another outsized interest-rate hike.

Speaking in an interview with Bloomberg TV’s Kathleen Hays at Jackson Hole, Rhee said Powell’s remarks at the gathering of central bankers were largely in line with his expectations.