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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.