South Korea’s monetary policy to remain accommodative

Lee Ju-yeol, governor of the Bank of Korea (BOK), speaks during a news conference in Seoul, South Korea, on Thursday, Nov. 30, 2017. BOK raised its benchmark interest rate for the first time since 2011,marking a likely turning point for Asian central banks. Photographer: SeongJoon Cho/Bloomberg

SEOUL: South Korea’s central bank chief said monetary policy should remain accommodative in 2018 because inflationary pressure is weak even as the economy is expected to post solid growth in the coming year.

“Inflationary pressure from the demand side isn’t forecast to be big and so monetary policies should remain accommodative for the time being,” Bank of Korea (BoK) governor Lee Ju-yeol (pic) said in his New Year’s speech, according to a bank statement.