Bank of Korea Governor Lee Chang-yong: "Interest Rate Cuts Unlikely for Over 6 Months"

Bank of Korea Governor Lee Chang-yong is presiding over the first Monetary Policy Committee plenary meeting of the new year held at the Bank of Korea in Jung-gu, Seoul, on the morning of the 11th. Photo by Joint Press Corps

Lee Chang-yong, Governor of the Bank of Korea, stated, "Under the current circumstances, it will be difficult to lower the base interest rate for at least the next six months."

Governor Lee made this remark on the morning of the 11th during a press conference held after the Bank of Korea's Monetary Policy Committee decided to keep the base interest rate unchanged, emphasizing that it was his personal opinion.

He explained, "We need to observe the Federal Reserve's interest rate decisions based on changes in inflation, whether oil prices stabilize, if consumption follows the economic forecast, and above all, whether the inflation trajectory proceeds as expected."

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