BOK’s Lee: Will maintain accommodative monetary policy stance
|“The central bank will maintain accommodative monetary policy stance,” the Bank of Korea (BOK) Governor Lee Ju-yeol said at the post-monetary policy press conference on Thursday.
Additional comments
Growth to be above Feb projection.
Inflation to be above Feb projection.
Inflation to be around 2% for some time before falling.
Uncertainties on pace of economic recovery is high.
Economic recovery has expanded somewhat.
To monitor severity of COVID-19 spread.
Recovery to continue on exports, investment.
Earlier today, the South Korean central left the key interest rates steady at 0.50% at its April monetary policy meeting, noting that the rates are likely to be maintained at 0.50% throughout this year.
Market reaction
USD/KRW sustains the rebound from six-week lows on the BOK’s rate decision, currently trading at 1,118.12, as the dovish outcome weighs on the Korean won. The spot is up 0.20% on the day.
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