The Monetary Policy Committee "Appropriately Adjusts the Degree of Monetary Policy Easing"... Likely to Raise Interest Rates Next Week

[Asia Economy Reporter Jang Sehee] The Monetary Policy Committee of the Bank of Korea is expected to raise the base interest rate on the 14th. Many committee members reached a consensus at last month's meeting that the base interest rate should continue to be raised in 2022.

According to the minutes of the 25th Monetary Policy Committee meeting in 2021, released by the Bank of Korea on the 7th, the committee members expressed opinions at the meeting held on the 23rd of last month that the degree of monetary policy easing should be appropriately adjusted in relation to the '2022 Monetary and Credit Policy Operation Direction.'

Many members said, "It is necessary to appropriately adjust the degree of easing in line with the improvement of the economic situation in 2022." However, some members also suggested that the recent intensification of the COVID-19 spread should be reflected.

Meanwhile, seven members attended the meeting, including Lee Ju-yeol, Governor of the Bank of Korea and chairman of the Monetary Policy Committee, members Lim Ji-won, Cho Yoon-je, Seo Young-kyung, Joo Sang-young, Lee Seung-heon (Deputy Governor of the Bank of Korea), and Park Ki-young.

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