Bank of Korea says 'low-inflation' era not coming in the next year or two

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SEOUL : South Korea's central bank will maintain its inflation target of 2 per cent until the next policy review, as the era of "low-inflation" is unlikely to come in a year or two, the bank's governor said on Wednesday".

Rhee said mechanisms to stabilise high inflation in recent years had been effective.

The BOK cited a weaker local currency and higher public utility costs as factors increasing upward price pressures and lower oil prices as a factor offsetting them.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Korea

Topics: Review Central Bank Cent Target Korea South Rhee Inflation Expected Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 13:02:58 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 378 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24530403

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