Bank of Korea Governor Shin Hyun-song, 16signals possible interest rate hike ahead of today’s monetary policy meeting
Bank of Korea Governor Shin Hyun-song said in a National Assembly business report on 7month 9day that "high inflation may continue for some time, so it is necessary to raise the benchmark rate at an appropriate time." 7month 16day. Investors are focusing on the renewed possibility of an interest rate hike ahead of the Monetary Policy Board’s decision.
Bank of Korea Governor Shin Hyun-song said in a business report to the National Assembly’s Planning and Finance Committee on 7month 9day that "there is a possibility that high inflation will continue for the time being, so it is necessary to raise the benchmark interest rate at an appropriate time." The remarks came ahead of the Monetary Policy Board’s decision on 7month 16day.
At the same meeting, Governor Shin said the possibility of a structural decline in stocks was limited. Specifically, he meant that a benchmark rate hike was unlikely to significantly alter the market’s overall long-term trend.
Governor Shin repeated concerns about the persistence of high inflation in his remarks. He said several times that he would judge the timing and pace of monetary policy based on the inflation trend.
Regarding the timing of a rate hike, Governor Shin used the expression “an appropriate time.” His remarks that day can be interpreted as a tone set ahead of the Monetary Policy Board’s discussion later 7this month.
Meanwhile, the Monetary Policy Board will decide the direction of the benchmark rate at its 7month 16day meeting. Governor Shin’s remarks once again confirmed the monetary policy stance ahead of that meeting.
The above is a summary of Governor Shin Hyun-song of the Bank of Korea’s remarks on 7month 9day and the Monetary Policy Board schedule on 7month 16day.