Menu Content
Go Top


BOK Chief: 3.25% Benchmark Interate Seems Within Neutral Rate

Written: 2022-11-24 13:16:20Updated: 2022-11-24 14:11:06

BOK Chief: 3.25% Benchmark Interate Seems Within Neutral Rate

Photo : KBS News

Bank of Korea(BOK) Governor Rhee Chang-yong assessed that Thursday’s 25-basis-point hike, the sixth consecutive increase, pushed the key rate of three-point-25 percent to some extent into the upper bracket of the neutral interest rate.

Rhee told reporters after a meeting of the central bank’s rate-setting monetary policy board Thursday morning that panel members were split on where to end the current rate-hike policy, with opinions ranging from three-point-25 percent to three-point-75 percent.

While a majority suggested three-point-five percent, the BOK chief said the latest meeting focused more on domestic financial stability from last month's spotlight on external factors surrounding volatility in the foreign currency market.

Asked how long the peak rate may last, Rhee said it would be difficult to set an exact time frame as the board will have to mull on numerous factors, including the U.S. Federal Reserve's rate hike and the stability of domestic inflation.

Editor's Pick


This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >