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S.Korea central bank chief says growth solid, faster-than-expected inflation to continue -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Bank of Korea Governor Lee Juyeol speaking at a Seoul news conference on November 30, 2017. REUTERS/Kim Hong-Ji

SEOUL (Reuters – South Korea’s central banking chief said Thursday that the country’s momentum for growth remains as strong and predictable due to improved private consumption. However, inflation is expected to exceed expectations at the moment.

In remarks for a meeting of finance industry professionals, Governor Lee Ju-yeol stated that while exports are still growing steadily but that consumption is improving rapidly thanks to the changes to COVID-19 policies.

Lee indicated that “faster than predicted” consumer inflation will persist for the moment due to supply constraints and rising oil prices.

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