BOK's Lee: rapid economic slowdown unlikely, time not right for further stimulus

Omkar Godbole FXStreet Contributor

Bank of Korea Governor Lee is out on the wires stating that while Korea's potential growth rate continues to fall, a rapid economic slowdown is unlikely this year.

The central bank kept interest rates unchanged at 1.75 percent earlier today.

Key quotes

2019 exports will still show growth in terms if volume.
Time not right to consider further monetary easing.
A downturn in memory chips industry will negatively affect the economy
Experts say semiconduction demand to improve in the second half.
2019 CPI inflation seen at 1.4 percent vs the previous estimate of 1.7 percent
2019 GDP growth is seen at 2.6 percent vs the initial estimate of 2.7 percent.

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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