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The Bank of Korea (BOK) Governor Lee Ju-yeol said on Wednesday that the South Korean central bank sees stronger economic recovery this year while adding that they are in no hurry to hike the interest rates.

Key quotes

“The trend of growth is likely to be stronger than previously projected.”

“But because real economic activity hasn’t returned to its potential level, and as the economy isn’t fully back on its feet from the shocks of COVID-19, our assessment is that the situation doesn’t warrant adjustments in policy stance.”