New Bank of Korea board member says inflation worries are heightening
FILE PHOTO: The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji/File Photo
15 May 2026 03:01PM
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SEOUL, May 15 : South Korea's newly appointed central bank board member, Kim Jin-ill, said on Friday inflation worries had heightened due to high oil prices sparked by the Middle East conflict. Kim said economic conditions were improving led by the technology sector, but uncertainty was high over global inves
New Bank of Korea board member says inflation worries are heightening
FILE PHOTO: The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji/File Photo
15 May 2026 03:01PM
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BOK holds policy interest rate at 2.50%. Governor Rhee to be replaced by incoming chief Shin Hyun-song.

Shin faces immediate challenges from Middle East-driven inflation and uneven growth.

The Bank of Korea's seven-member monetary policy board voted to keep its benchmark interest rate unchanged at 2.50%.

The consumer price index was roughly in line with median forecasts for a 2.35% figure, but stayed above the BOK's inflation…

Housing prices in Seoul spiked over 19% in June on an annualized basis, prompting financial authorities to address rapidly…

The Bank of Korea's monetary policy board voted to keep the benchmark interest rate unchanged at 2.50%, in line with expectations.