Bank of Korea opens door to rate cuts as growth risks trump inflation

Transcript

00:00The Bank of Korea decided to keep its interest rate at 3.5%, but hinted that it might lower

00:06the rate soon because they are more worried about economic growth more than inflation.

00:11Governor Ri Chang-yong mentioned that some board members might consider a rate cut in

00:17October.

00:18This comes after the South Korea Central Bank reduced its growth forecast to 2.5%.

00:24The bank is being careful following a global trend loosening monetary policies.

00:29Rising household debt and real estate prices in Seoul are also affecting their decisions.