BOK nominee puts inflation fight first

Shin Hyun-song, nominee for governor of the Bank of Korea, warned Wednesday that rising external uncertainty is driving both inflationary pressure and downside risks to growth, signaling that price stability will remain the central bank’s top priority. Speaking at a parliamentary confirmation hearing, Shin said higher oil prices and a weaker won are likely to push inflation higher in the coming months. “The Korean economy faces upward pressure on prices and downward pressure on growth,” he said,

By The Korea Herald