BOK's Lee: Recent fall in KRW is not excessive

Omkar Godbole FXStreet Contributor

Bank of Korea (BOK) Governor Lee is out on wires stating that recent fall in the South Korean Won (KRW) does not look excessive when compared to the slide seen in other emerging market currencies.

Key quotes (Source: Reuters)

2018 GDP forecast at 2.9 pct vs 3.0 pct seen earlier
2018 inflation forecast 1.6 pct vs 1.6 pct seen earlier
Uncertainties to s.Korea economy higher than before
Thursday's decision to keep rates steady was not unanimous
Board member lee il-houng was dissenter to Thursday's rate decision
Growth, inflation trajectory not so much different from paths seen in April
Impact from trade dispute won't be small for Sout Korea economy once pledges are enacted
Major capital outflow doesn't seem likely for Sout Korea
Its difficult to see sole dissenter seen today as a signal for the future rate hike
Recent falls in KRW vs. USD was rapid
Falls in KRW in recent weeks are not excessive compared to movements in other emerging market currencies
Volatilities in won may increase, will closely watch currency movements
2019 GDP growth seen at 2.8 pct

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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