BoK governor: South Korea must keep interest rates up to fight inflation

SEOUL: The Bank of Korea (BoK) must keep raising interest rates until inflation is in decline, but the central bank likely could not halt its tightening before the US Federal Reserve (Fed), says governor Rhee Chang-yong.

In an interview with Reuters, Rhee also said South Korea’s central bank is ready to take steps including intervention to stabilise the won against the dollar, if needed, should the bank determine speculative forces are causing the currency’s fall.