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

The Bank of Korea earlier today left is rate unchanged at 3.5%, as expected.

• Premature to be confident that inflation will converge on the target
  level
• Will maintain
  restrictive policy stance for sufficient period of time
• To monitor inflation
  slowdown
• Growth forecast to
  be consistent with earlier forecast or could be higher
• To monitor financial
  stability risks
• To monitor economic
  growth risks
• To monitor household
  debt growth
• To monitor
  differentiation in monetary policy operations in major countries
• To monitor
  developments in geopolitical risks
• Growth to be
  affected by it sector growth, project finance restructuring
• Inflation to
  gradually moderate

On the won:

• KRW recently weakened to dollar due to the strong USD and weak neighbouring currencies

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