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S. Korea President Moon: Need to focus on stabilizing consumer prices
South Korean President Moon Jae-in said in a statement on Tuesday, his government needs to focus on stabilizing consumer prices.
His comments come after the Bank of Korea (BOK) kept the key rates unchanged at 0.75% after the August rate hike.
The central bank said that the country’s inflation is expected to run at the mid-2% level this year, adding that they will monitor growth and inflation.
Market reaction
USD/KRW sits at 15-month tops at 1,200.55 on BOK’s status-quo, benefiting from the advance in the US dollar amid the risk-off mood.
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