South Korea central bank chief says inflation control is priority

Reuters

South Korea's central bank governor said on Wednesday

Cynthia Kim, Jihoon Lee, Reuters News

October 11, 2023

PHOTO

South Korea's central bank governor said on Wednesday stabilizing prices is the current priority over growth as policymakers need to stay alert against a renewed flare-up in prices.

Rhee Chang-yong told CNBC that headline inflation will slow to just above 3% by the end of this year and reach the central bank's target of 2% by the end of 2024.

He was speaking on the sidelines of the World Bank-International Monetary Fund annual meetings in Morocco. (Reporting by Cynthia Kim, Jihoon Lee; Editing by Andrew Heavens)

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