Park Seung
Park Seung
Park Seungwas the Governor of the Bank of Korea; his four-year term ended on the 31st of March 2006. He kept South Korean interest rates at historic lows but was blamed for contributing to a real-estate market that saw spiralling prices and controversial accusations of speculation...
compared rising won
The won is rising too rapidly, compared with other currencies.
domestic due economic high oil posting pressures recovery robust service
Domestic consumption is very robust and manufacturing and service outputs are posting faster-than-expected growth. There are latent inflationary pressures due to the economic recovery and persistently high oil prices.
downward economy exports investment overall remain showing slowing trend
The economy is on a downward trend overall as consumption, investment and construction all remain in a slump, while exports are showing slowing growth,
consumer economic entered exports korea normal prices recovery south
South Korea has entered a normal recovery track, where economic growth, consumer prices and exports are in better shape.
began clearly exports last november perk since
Production, exports and consumption clearly began to perk up since November last year.
continuing current half next situation
We see the current situation continuing through the first half of next year.
current half months next price second six
We have to take into consideration the current price stability, but more so for the next six months and for the second half of next year.
bank based central change consider consumer economic finance gradual interest monetary needed perception point policy prices raise rates send share shock signal view
We have approached a point where we need to consider a gradual change in monetary policy. We share this view with the Finance Ministry. Monetary policy is based on economic growth, consumer prices and allocation of resources. The perception that the central bank would not raise interest rates had been prevalent, so I needed to send a signal not to shock the markets.
discuss next raise seriously
We will discuss a raise seriously at next month's meeting,