Delivery time2023-10-11 19:23
“Inflation rate could converge to 2% next year”… Interview with CNBC
(Seoul = Yonhap News) Reporter Han Ji-hoon = Bank of Korea Governor Lee Chang-yong said on the 11th, “There is a possibility of low growth in Korea due to internal factors,” and expressed concern about the impact of low birth rate and aging.
Governor Lee said this in an interview with CNBC in the United States in Marrakech, Morocco, where he was visiting to attend a meeting of finance ministers and central bank governors of the G20 and the joint annual general meeting of the International Monetary Fund (IMF) and World Bank (WBG).
Governor Lee predicted that Korea would be “not a typical case” in being affected by global factors such as prolonged high interest rates.
He continued, “Korea has a very low birth rate and the aging population is progressing rapidly. We need to see how the reduction in growth potential due to low birth rate and aging, along with the factors of prolonged high interest rates, will work.”
Regarding Korea’s economic growth rate, Governor Lee said, “The IMF presented next year’s growth rate forecast as 2.2%, which is similar to the Bank of Korea’s view,” and mentioned China’s economic situation and oil prices as variables.
Regarding the domestic price outlook, he said, “Prices have fallen at a faster rate compared to other countries,” and “the inflation rate will fall to around 3% by the end of this year, and may converge to the target level (2%) next year.”
Bank of Korea Governor Lee Chang-yong
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2023/10/11 19:23 Sent
2023-10-11 10:23:20
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