Senior Deputy Governor Ryoo Sangdai said in Samarkand on Sunday that policymakers should stop cutting rates and start thinking about increases.
He said growth is unlikely to fall much below the central bank’s earlier projections, while inflation is likely to exceed its previous forecast.
Ryoo made the remarks while attending the Asian Development Bank’s annual meeting, signalling a possible shift in South Korea’s monetary policy stance.
Amidst war-driven inflation, can Korea raise rates without derailing its fragile, export-led economic recovery?
As the Bank of Korea prepares to hike rates, are South Korean households heading for a debt crisis?
Is South Korea's hawkish turn a sign that Asia is decoupling from the Federal Reserve's monetary policy?