SEOUL ― South Korea should try to address the country's high cost of living through structural reforms instead of relying on the central bank to fight it, a Bank of Korea (BoK) official said, as the bank mainly targets inflation rather than price levels.
SEOUL ― South Korea should try to address the country's high cost of living through structural reforms instead of relying on the central bank to fight it, a Bank of Korea official said, as the bank mainly targets inflation rather than price levels.
Ryoo declined to comment on interest rates ahead of next week's policy decision, but said the won's recent movements amid rate cut expectations seem to be also affected by South Korea's economic conditions and capital flows, among others.The BoK, whose chief mandate is 'to promote macroeconomic stability including price,' executes its policies independently and targets to keep headline inflation at 2 percent over the medium term.
Says Cost Of Living Not Priority In Their Price Stability Mission
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