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24 Dec 2014
BOK to lower CPI target – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares that falling oil prices led the Bank of Korea to announce that it will lower its inflation target in 2015, further adding that the bank maintains its view on the economy’s recovery.
Key Quotes
“Report out of the Bank of Korea announced it will be lowering its inflation target next year to account for changing economic conditions - presumably the falling oil prices. Recall the most recent CPI figure of 1.0% in November was a 9-month low and also marked the 25th straight month below central bank's target band of 2.5-3.5%.”
“BOK added the domestic economy would maintain a modest recovery trend, even as financial and fx markets see increased volatility.”
Key Quotes
“Report out of the Bank of Korea announced it will be lowering its inflation target next year to account for changing economic conditions - presumably the falling oil prices. Recall the most recent CPI figure of 1.0% in November was a 9-month low and also marked the 25th straight month below central bank's target band of 2.5-3.5%.”
“BOK added the domestic economy would maintain a modest recovery trend, even as financial and fx markets see increased volatility.”