Bank of Korea Governor Rhee says oil prices will continue higher than expected

Earlier from the Bank of Korea:

• Bank of Korea says its too early to be confident inflation will converge on target level

Governor Rhee now:

• Friday’s rate decision was unanimous
• One in seven board
  member said door for a rate cut should be open for next three-months
• Uncertainties to
  inflation outlook higher
• All seven members
  said hard to predict policy decisions for the second half
• Rate cuts might be
  difficult this yr should inflation remain sticky
• Have not signaled
  for a rate cut
• Have more room to
  focus on domestic conditions in deciding monetary policy this yr than
  last
• Oil prices are going
  higher than expected
• Won’s recent weakness affected by strong US dollar
• US

  Fed’s signal for pivot allowed monetary policies here in korea to be
  decoupled from it

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