BoK Governor Shin says Middle East war uncertainty persists and oil stability is to take time to return, adds local growth expansion driven by semiconductor boom

Says:

• Need to raise interest rates at some point in the future.
• Sees a need for a base rate hike at an appropriate time.
• Policy path is very clear, with a restrictive stance ahead while factoring in FX, growth and inflation.
• Wider BoK dot plot range reflects a high degree of uncertainty.
• CPI is seen remaining above target for a considerable period.
• Need to monitor whether CPI and growth follow the expected path.
• Inflationary pressures are emerging.
• Cost of living is seen rising in South Korea.
• Strong growth is seen continuing in the coming months.
• Other indicators suggest inflation pressures remain.