South Korea central bank sets open-ended inflation target of 2.0%
[SEOUL] South Korea's central bank on Wednesday set an open-ended annual inflation target of 2.0 per cent, effective from 2019, unchanged from the target that expires at year-end.
But the Bank of Korea removed the three-year time limit that applied to the current 2.0 per cent target, saying volatility in consumer prices has reduced compared to the prior years.
The BOK will now review the inflation target every two years.
In a separate statement, the central bank said it would maintain the current accommodative monetary policy stance in 2019, but did not elaborate on the near-term direction of rates.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China says Hamas and Fatah express will for reconciliation
US consumer confidence at lowest level since 2022
Record gold prices boost recycling: WGC
Malaysian fast food operator QSR shelves IPO plans amid boycott campaign: sources
WHO warns of bird flu risk spreading to cows outside US
Sri Lanka’s key inflation rate rises to 1.5% in April