BOK’s Lee: rapid economic slowdown unlikely, time not right for further stimulus

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Bank of Korea Governor Lee is out on the wires stating that while Korea’s potential growth rate continues to fall, a rapid economic slowdown is unlikely this year. 

The central bank kept interest rates unchanged at 1.75 percent earlier today.

Key quotes

  • 2019 exports will still show growth in terms if volume. 
  • Time not right to consider further monetary easing. 
  • A downturn in memory chips industry will negatively affect the economy
  • Experts say semiconduction demand to improve in the second half. 
  • 2019 CPI inflation seen at 1.4 percent vs the previous estimate of 1.7 percent
  • 2019 GDP growth is seen at 2.6 percent vs the initial estimate of 2.7 percent. 
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