New Bank of Korea Member Warns Middle East Conflict Fuels Inflation Fears

Deep News05-15 15:46

New Bank of Korea monetary policy committee member Kim Jin-ill stated on Friday that inflation concerns are intensifying due to high oil prices triggered by the Middle East conflict.

He noted that economic conditions are improving, driven by the technology sector, but global investment prospects remain uncertain, and domestic inequality issues persist.

Regarding financial stability, Kim Jin-ill expressed growing concerns over risks from capital flow volatility, alongside ongoing issues related to household debt and housing prices.

Kim Jin-ill officially began his four-year term as a member of the Bank of Korea's seven-person policy committee on Friday. His first interest rate decision meeting is scheduled for May 28.

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