Bank of Korea opens door to rate cuts as growth risks trump inflation

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Bank of Korea opens door to rate cuts as growth risks trump inflation
Transcript
00:00The Bank of Korea decided to keep its interest rate at 3.5%, but hinted that it might lower
00:06the rate soon because they are more worried about economic growth more than inflation.
00:11Governor Ri Chang-yong mentioned that some board members might consider a rate cut in
00:17October.
00:18This comes after the South Korea Central Bank reduced its growth forecast to 2.5%.
00:24The bank is being careful following a global trend loosening monetary policies.
00:29Rising household debt and real estate prices in Seoul are also affecting their decisions.

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