- Bank of Korea Governor Shin Hyun Song said further gains in the won would be desirable, citing stronger household purchasing power from the currency's substantial appreciation since the central bank shifted to tighter policy.
- Shin said the BOK will keep a restrictive monetary policy stance until it is confident inflation will converge to target in a timely way.
- The remarks were made during a discussion with IMF Asia and Pacific Department director Krishna Srinivasan at the IMF and World Bank annual meetings in Bangkok.
Quotes
“We will keep a restrictive stance of monetary policy until we’re confident that inflation will converge to our target, and in a timely way”