Earlier from the Bank of Korea:
Governor Rhee now:
- Friday's rate decision was unanimous
- One in seven board member said door for a rate cut should be open for next three-months
- Uncertainties to inflation outlook higher
- All seven members said hard to predict policy decisions for the second half
- Rate cuts might be difficult this yr should inflation remain sticky
- Have not signaled for a rate cut
- Have more room to focus on domestic conditions in deciding monetary policy this yr than last
- Oil prices are going higher than expected
- Won's recent weakness affected by strong US dollar
- US
Fed's signal for pivot allowed monetary policies here in korea to be decoupled from it