Monetary policy will be based on seeking a balance between growth and stability.
More Quotes from Park Seung:
The economy is showing clear signs of recovery, in terms of production, exports and consumption.Park Seung
South Korea has entered a normal recovery track, where economic growth, consumer prices and exports are in better shape.
Park Seung
The balance can change into 55-45 between economic growth and inflation, from 50-50,
Park Seung
Domestic consumption is very robust and manufacturing and service outputs are posting faster-than-expected growth. There are latent inflationary pressures due to the economic recovery and persistently high oil prices.
Park Seung
We have approached a point where we need to consider a gradual change in monetary policy. We share this view with the Finance Ministry. Monetary policy is based on economic growth, consumer prices and allocation of resources. The perception that the central bank would not raise interest rates had been prevalent, so I needed to send a signal not to shock the markets.
Park Seung
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