Speaking in Frankfurt ahead of his term's end, Bank of Korea Governor Rhee Chang Yong highlighted that wars and energy shocks now drive inflation beyond central banks' control.
He noted that traditional monetary and fiscal policies are less effective as Europe faces renewed oil-driven price shocks, just four years after inflation neared 10 percent.
Rhee's remarks underscore growing global concerns that geopolitical tensions and energy disruptions are challenging central banks’ ability to maintain economic stability and growth.
What new tools can nations use to fight inflation driven by external conflicts?
Are central banks using geopolitics as a scapegoat for their policy limitations?
Are central banks choosing between curbing inflation and preventing a global recession?
Is the standard 2% inflation target obsolete in a world of constant supply shocks?
With rising energy prices, can households escape a permanent cost-of-living crisis?
How can economies build resilient supply chains amid tariffs and geopolitical turmoil?