Bank of Korea Gov. Lee Ju-yeol hinted at the need to raise interest rates within this year.
Korea’s central bank predicted the country’s economy will grow more than 3 percent this year, slightly higher than a forecast made in February.
Bank of Korea Gov. Lee Ju-yeol said the central bank will maintain an accommodative monetary policy in 2021 to help the country recover from the economic damage caused by Covid-19.
The Bank of Korea (BOK) last week stunned the market with its rate action. It had slashed the policy rate by 50 basis points to a fresh historic low of 0.75 percent in an emergency meeting in March. Since the cut was bigger than...