The following are translations of key remarks made by Bank of Korea (BOK) Gov. Lee Ju-yeol at a news conference Thursday after the monetary policy committee voted to maintain the base rate at 2 percent. They do not cover remarks from separately released statements.
— The monetary policy committee’s decision to freeze the base rate at 2 percent was unanimous.
— The BOK will take heed of financial stability risks and monitor macroeconomic factors, including economic growth and the inflation rate.
— Acceleration in the weakening yen may become worrisome if Japanese firms change business tactics and begin to lower prices.
— The extent of the weakening yen is likely to be limited considering the side effects it can have on Japan’s inflation rates and import prices for its companies.
— Current market concerns over the weakening Japanese currency seem excessive and may have been overly exaggerated relative to the actual situation.
— 25 basis point rate adjustments seem appropriate under the current condition, as a change may raise market uncertainties. (Yonhap)
