SEOUL : South Korea’s central bank governor on Friday said policy interest rates will need to be adjusted as an economic recovery takes shape in 2022, suggesting further tightening is in the pipeline as price pressures build.
“The degree of monetary policy easing will be adjusted appropriately in line with the improvement of economic conditions,” Bank of Korea Governor Lee Ju-yeol said in a speech ahead of the New Year.
“We should look carefully to see if there is a possibility that inflationary pressure would last longer than expected.”
The BOK in November raised interest rates https://www.reuters.com/markets/asia/skoreas-central-bank-raises-rates-price-pressures-mount-2021-11-25 for the second time since the pandemic began to 1.00per cent and revised up its inflation outlook amid growing concerns about rising household debt and consumer prices.
Data released on Friday…