BoK projects inflation stays above target; timing of further hikes to be set
Six of 21 policy-rate projections were at 3.50%, 10 at 3.25% and 5 at 3.00%. Board member Hwang Kun-Il dissented. BoK cites robust growth and gradual consumption recovery, and will assess inflation and financial stability.
6 Of 21 Six-Month Policy Rate Projections At 3.50% - 10 Of 21 Projections At 3.25% - 5 Of 21 Projections At 3.00% - Board Member Hwang Kun-Il Dissented From Thursday's Rate Decision - Economy Expected To Maintain Robust Growth On Strong Exports And Investment - Consumption Recovery Expected To Gradually Accelerate - Will Assess Inflation, Domestic Economy And Financial Stability - Need To Monitor Household Debt Growth - Uncertainty Remains Over Chip-Sector Expansion, Middle East Developments And Trade Environment