BOK's Lee hints at rate cut amid heightened external uncertainties

Omkar Godbole FXStreet Contributor

Bank of Korea Governor Lee Ju-yeol on Wednesday hinted at an easing policy amid rising external uncertainties and very low domestic inflation.

The central bank head downplayed the need for ease policy in the past few months.

Key quotes

"We should respond appropriately as the uncertainty has risen sharply in such external factors as the China-US trade conflicts and the semiconductor industry."

"The local economy is expected to expand on increased government spending and the slump in exports and investment removed down the road, but it appears that uncertainties on our path to growth have become greater."

"As prices are at a significantly lower level than our target, we must regularly monitor our price stabilization steps and thoroughly explain our steps to help enhance the economic players' understanding of price conditions."

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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