Bank of Korea's Shin Hyun-song says more data can be checked before further rate rise
In short
Bank of Korea Governor Shin Hyun-song (신현송) said it is not too late to check additional data, including third-quarter GDP and October prices, before deciding on a further rate increase. Korean outlets also quoted him citing upside factors for growth and prices.
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Bank of Korea Governor Shin Hyun-song (신현송) said it is not too late to check additional data before deciding on a further rate increase, according to Korean outlets on 22 October. Yonhap quoted the governor as saying the bank would check third-quarter GDP, October prices and other data a little more. [ 1 , 2 , 4 ]
Newsis quoted Shin as saying a decision on an additional rate increase would be made after closely examining future data. Newsis also quoted him citing upside factors for growth and prices. Asia Economy quoted him as saying that, for an additional rate increase, it is not too late to check third-quarter GDP and price trends. [ 1 , 3 , 4 ]
Why it matters
The remarks indicate that any further rate increase will depend on upcoming data, according to the reports. The documents give only headline-level detail, so the wider significance is not stated.
Key facts
- Shin Hyun-song, the Bank of Korea governor, said it is not too late to check additional data. [ 1 , 2 ]
- Yonhap quoted the governor as saying the bank would check third-quarter GDP, October prices and other data a little more. [ 2 ]
- Newsis quoted Shin as saying a decision on an additional rate increase would be made after closely examining future data. [ 3 ]
- Asia Economy quoted Shin as saying it is not too late to check third-quarter GDP and price trends before an additional rate increase. [ 4 ]
- Newsis quoted Shin as citing upside factors for growth and prices. [ 1 ]
Confirmed by several sources
Still unclear
- Whether and when a further rate increase will be made. The documents quote Shin only as saying the decision depends on data still to be checked; no decision is reported.
- The setting of the remarks and the current policy rate. The documents are headlines and short summaries and do not describe where the remarks were made or give the rate level.
What local media are saying
Timeline, local time
- Newsis and Yonhap published breaking-news items quoting the governor on checking more data. [ 1 , 2 ]
- Newsis published an item quoting Shin on deciding an additional rate increase after closely examining future data. [ 3 ]
- Asia Economy published an item quoting Shin on third-quarter GDP and price trends before an additional rate increase. [ 4 ]