© Reuters. SUBMIT IMAGE: The logo design of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji
SEOUL (Reuters) – Many Bank of Korea financial policy board members stated at their newest policy conference on Might 25 it was not yet time to be contented over slowing inflation, minutes from the conference revealed on Tuesday.
” Although customer rate inflation has actually peaked and gone into a cooling stage, we can’t yet manage to be contented,” one member stated.
Another member stated: “If merging of inflation on its target level is considered to be considerably postponed, aggressive procedures ought to be taken through extra rate walkings.”
The Bank of Korea held rate of interest consistent for a 3rd straight conference last month, with a downgrade in its financial development projection for this year.
Information a week after the conference revealed South Korea’s customer inflation alleviated for a 4th straight month in Might to a 19-month low of 3.3%, still above the reserve bank’s medium-term target of 2%.