S Korea central bank chief says economy not in deflation

[SEOUL] South Korea's central bank chief said on Tuesday that the economy is not in deflation, but rather is going through a state of prolonged low price pressures and growth.

Bank of Korea Governor Lee Ju-yeol made the comments to lawmakers during a parliamentary audit.

When asked by a lawmaker whether he believed monetary policy had much effect in boosting economic growth, Bank of Korea Governor Lee Ju-yeol said the expected effects are weak. - Reuters