BOK’s Lee: Today’s rate decision was not unanimous one member called for a rate cut
The Bank of Korea (BOK), the South Korean central bank, Governor Lee Ju-yeol is on the wires now, via Reuters, speaking at the post-monetary policy decision press conference.
Key Quotes:
2019 GDP growth seen at 2.0% vs 2.2% seen previously.
2019 inflation seen at 0.4% vs 0.7% seen previously.
2020 GDP growth seen at 2.3% vs 2.5% seen previously.
2020 inflation seen at 1.0% vs 1.3% seen previously.
Today’s rate decision was not unanimous one member called for a rate cut.
Board member Shin in-Seok was dissenter to Friday’s rate decision.
Local economy seen as passing bottom.
Baseline scenario is that US-China conflicts will not worsen.
Government's policies have helped contain financial imbalance risks.
The South Korean Won (KRW) keeps its range near daily lows of 1,180.01 vs. the US dollar last minutes, despite Bank of Korea’s (BOK) status-quo interest rate decision.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
