Thursday, January 13, 2011

Bank of Korea Governor Jin Zhongxiu January rate hike is expected to ease inflation

 Central bank (Bank of Korea) President Jin Zhongxiu (Kim Choong-soo) Thursday (January 13) that the risk of rising inflation expectations than in December, January's inflation expected to ease interest rates decision .

Jin Zhongxiu policy press conference after the meeting, said the official interest rate raised to 2.75% of the decision was not unanimously agree, but this decision will help ease inflation expectations in the coming months.

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he said: months remained at 3% above, we are to be closely watched. times by 25 basis points) to suppress inflation.

Monetary Policy Committee of the Bank of Korea unexpectedly early Thursday, the benchmark interest rate by 25 basis points to 2.75%; policy announcement issued after the Bank of Korea said that the Commission ensure the future implementation of a strong currency price stability properties policy.

Bank of Korea said Thursday that future monetary policy will be effective to maintain price stability as the goal, due to the steady recovery of the domestic economy or further push up inflation.

central bank said in the course of the implementation of monetary policy will be fully taken into account the financial and economic conditions at home and abroad.

central bank said consumer prices taking into account the impact of international raw materials and agricultural products, fishery and livestock products, market prices caused by supply line pressure surface is expected to rise; and the market demand side pressures are increasing.

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