Bank Korea drops phrase ‘upside risks to inflation forecasts have increased’ from statemt

Bank of Korea comments on their policy decision today:

• Will maintain restrictive policy stance for sufficient period of time
• Will examine the
  timing of a rate cut
• Economy to continue
  moderate growth
• To monitor trend of
  slowing inflation
• To assess trade-off
  between policy variables, such as growth and financial stability
• Growth temporarily
  weaken in q2
• Gdp growth in line
  with earlier forecast
• Drops phrase ‘upside
  risks to inflation forecasts have increased’ in policy statement
• Inflation could be
  slower than forecast
• Core inflation seen
  consistent with earlier forecast
• Inflation will gradually converge on the target level

Earlier:

• Bank of Korea monetary policy meeting – leaves base rate unchanged @3.5%

This article was written by Eamonn Sheridan at www.forexlive.com.