Shin Hyun-song, governor of the Bank of Korea, strikes the gavel at the first plenary meeting of the Bank of Korea's monetary policy committee since taking office at the Bank of Korea headquarters in Jung-gu, Seoul, on the 28th. /Courtesy of News1

Bank of Korea Governor Shin Hyun-song said at a press briefing on the 28th, after keeping the benchmark interest rate unchanged at 2.5% a year, that "it is judged necessary to raise the benchmark rate at an appropriate time going forward."

Shin said, "The inflation rate is expected to remain above the target level (2%) for a considerable period ahead, and growth will continue a steady improvement." She added, "From a financial stability perspective, given the need to pay attention to exchange rate volatility and risks related to Seoul metropolitan area dwellings prices and household liability, it is judged necessary to raise the benchmark rate at an appropriate time going forward."

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