Reuters was first to report the Bank of Korea must keep raising interest rates until the rate of inflation is in decline, but the central bank likely could not halt its tightening before the U.S. Federal Reserve, Governor Rhee Chang-yong said on Saturday. In an interview with Reuters, Rhee also said South Korea’s central bank is ready to take steps, including intervention to stabilize the won against the dollar, if needed, should the bank determine speculative forces are causing the currency’s fall.
The post Reuters reveals Bank of Korea’s Rhee says policy tightening unlikely to end before Fed appeared first on Reuters News Agency.
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