BoK says will maintain restrictive policy stance for a sufficient period of time and will examine the timing of a rate cut
Says:
- 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 weakened 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.
11 Jul 2024 - 02:32- Important- Source: Newswires
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