South Korea’s central bank, Bank of Korea (BOK), Governor Lee Ju-yeol said in a New Year’s statement on Tuesday, monetary policy should remain accommodative in 2020, per Reuters.
Key Quotes:
“For the coming year there’s a need to keep monetary policy accommodative as economic growth will likely hover below the potential growth rate, while the demand-side inflationary pressure will stay weak.”
“Tougher global trade conditions and geopolitical risks will remain for the export-dependent economy, in addition to demographic and labor challenges.”
His comments came after the S. Korean CPI data on Tuesday showed South’s consumer inflation picking up in December but its full-year reading set a record low.
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