Bank of Korea Governor Puts Inflation at Center of Rate Decisions

Bank of Korea Gov. 申炫松 said Oct. 12 that inflation trends remain the central bank’s most important monetary-policy consideration as he addressed questions about possible rate increases in October or November.

申炫松 spoke during a parliamentary inspection meeting at the Bank of Korea’s headquarters in Seoul’s Jung District. He said inflation causes the greatest harm to low-income and economically vulnerable groups.

“We particularly emphasize that inflation causes the greatest harm to low-income and vulnerable groups,” 申炫松 said.

He also said vulnerable borrowers are under pressure from high interest rates. The remarks described a balance between controlling inflation and limiting the impact of high rates on households and businesses.